Consumer Alert: Cryptocurrency Scams Warning

Concord, NH - Attorney General John M. Formella is warning New Hampshire residents to be vigilant as cryptocurrency scams continue to target Granite State consumers. In 2024 alone, 547 residents reported losing more than $22 million to scams involving Bitcoin and other digital assets.

"Cryptocurrencies can seem exciting, but they also present opportunities for fraudsters to steal money quickly across borders," said Attorney General Formella. "New Hampshire consumers need to be cautious and understand the warning signs before sending money or investing in digital assets."

Schemes commonly employed by scammers include:

• Impersonating tech support, government or law enforcement officials, and celebrities

• Spending weeks or months building trust in a fake romantic relationship before requesting money or making an investment suggestion

• Claiming a loved one is in an urgent, serious situation requiring that money be sent

• Fake investment opportunities, where scammers build trust before asking victims to invest in fraudulent digital assets

• Using Telegram and Whatsapp while impersonating cryptocurrency exchange support staff

Scammers often exploit the pseudonymous, irreversible, and borderless nature of cryptocurrencies. Common schemes include fake investment opportunities, romance scams, grandparent scams, and "Pig Butchering" schemes, where scammers build trust before asking victims to invest in fraudulent digital assets.

For practical guidance on protecting yourself and your money, Granite State consumers are encouraged to read new guidance being issued today from the New Hampshire Department of Justice Consumer Protection and Antitrust Bureau. The guidance (attached) provides detailed tips for spotting scams, safely conducting transactions, and reporting incidents to law enforcement.

If you or someone you know has been targeted by a cryptocurrency scam, contact your local police department, report the scam to the FBI's Internet Crime Complaint Center at https://www.ic3.gov, and reach the NH DOJ Consumer Protection and Antitrust Bureau by phone at (603) 271-3641 or by email at [email protected], or file a complaint online: https://www.doj.nh.gov/consumer/complaints/index.htm.

The Consumer Protection and Antitrust Bureau enforces the New Hampshire Consumer Protection Act and is committed to protecting residents from deceptive, unfair, and fraudulent business practices. For more information about the Attorney General's Consumer Protection Bureau: https://www.doj.nh.gov/citizens/consumer-protection-antitrust-bureau.