PARKERSBURG, W.Va. (WTAP) – With a rise in bitcoin scams being reported, the Parkersburg Police Department has tips to avoid them.

The Parkersburg Police Department said there has been a significant rise in fraud scams involving bitcoin.

Scammers are using a variety of tactics to trick individuals out of their money, such as phishing and romance scams. Scammers are also claiming victims have outstanding warrants and must pay to avoid arrest.

The Parkersburg Police Department said that once the victims send their money, it falls into the hands of criminals operating overseas. This results in a total loss of funds.

“No legitimate law enforcement agency will request that you transfer funds to a bitcoin machine as a method for paying fines,” the police department reported.

Here are some of the most common methods scammers are reaching their victims, according to the police department:

• Social Media: Scammers use social media to reach out to victims directly via messaging or indirectly through deceitful job advertisements or investment opportunities that can be found on all main social media platforms.
• Texting: Scammers text victims pretending they misdialed a number, sending a photo of themselves, or saying they work for a company that is hiring for job opportunities.
• Dating Sites: Scammers create thousands of fake dating profiles on all common dating sites and match with victims to establish a romantic relationship based on trust.

Tips for avoiding scams

• If an unknown individual contacts you, do not release any financial or personal identifying information (PII) and do not send any money.
• Do not invest per the advice of someone you meet solely online.
• Verify the validity of any investment opportunity from strangers or long-lost contacts on social media websites.
• Be on the lookout for domain names that impersonate legitimate financial institutions, especially cryptocurrency exchanges.
• Misspelled URLs, often with a slight deviation from the actual financial institutions’ website, may be fake.
• Do not download or use suspicious looking apps as a tool for investing unless you can verify the legitimacy of the app.
• If an investment opportunity sounds too good to be true, it likely is. Be cautious of get rich quick schemes.
• Confirm the validity of any investment opportunity or cryptocurrency investment website or app.
• If you have already invested funds and believe you are a victim of a scheme, do not pay any additional fees or taxes to withdraw your money.
• Do not pay for services that claim to be able to recover lost funds

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