Billerica Police warn of recent cryptocurrency scams

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BILLERICA, Mass. — The Billerica Police Department are warning residents of recent scams involving cryptocurrency investing.

In the limited number of cases the department has seen, the money stolen from victims was around $200,000. Oftentimes, the money is not recoverable.

Victims of these scams report receiving unsolicited messages through popular social media sites including Facebook Messenger and WhatsApp. The scammer will offer to assist their victim with cryptocurrency investing, according to Billerica Police. They are then given links to websites that allow for electronic transfers and are told to transfer money to begin their investments.

The scam continues with more requests for money transfers to cover investing fees and/or taxes. These scammers will also utilize phony apps to steal money from their victims.

Billerica Police would like to remind residents to be wary of suspicious messages and links on social media and offer the following tips:

  • Never entertain unsolicited communications
  • Never give anyone your login credentials
  • Never accept offers to assist with withdrawals/deposits
  • Never entertain “free” giveaways, airdrops or trading platforms

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