The Grand Junction Police Department has noticed a rise in scams involving Bitcoin, a digital currency that exists only online. Scammers are increasingly using cryptocurrency because of the anonymity it provides, making it harder for law enforcement to trace stolen funds. 

These scams often involve extortion, romance schemes, and phishing attempts, with scammers employing a variety of deceptive tactics to exploit victims. A particularly alarming scam involves a caller falsely claiming that a loved one has been in an accident and arrested. The scammer pressures the victim to pay bail using cryptocurrency, requiring them to find a Bitcoin kiosk or use a Bitcoin app. The scammer typically sends a link or instructions on how to deposit the money. Once the payment is made, the scammer calls back, citing new injuries or legal complications, and demands additional funds.

Scammers may also impersonate utility companies or government agencies, threatening disconnection of services, legal action, or fines unless payment is made immediately through Bitcoin or another form of cryptocurrency. These scams are designed to prey on people’s fears and emotions, forcing them to act impulsively without verifying the legitimacy of the situation.

To protect yourself, the Grand Junction Police Department offers these tips for all scams:

1. Verify the Source: Be cautious of unsolicited emails, phone calls, or messages that appear to come from cryptocurrency exchanges or wallets. Scammers often impersonate legitimate companies.
2. Be Skeptical: Avoid falling for promises of a quick resolution, as scammers use urgency to trick you. If it feels suspicious, it probably is. 
3. Ignore Pressure Tactics: Scammers often rely on aggressive tactics or impose false time limits to rush your decision-making. Don’t let them push you. Take your time to think things through before acting.
4. Limit What You Share on Social Media: Be cautious about what you share publicly on social media, as scammers often use details from your profiles to trick you into believing they know you or have information about your life.
5. Educate Friends and Family: Scammers often target the elderly or vulnerable population. Share what you know with family and friends, especially those who may be less familiar with technology or cryptocurrency.

The Grand Junction Police Department asks community members to report any fraudulent activity to their financial institutions right away. Citizens who fall victim to any financial scams may report them online at https://www.gjcity.org/DocumentCenter/View/1209/Fraud-Packet-PDF?bidId= or call dispatch at 970-242-6707. Community members can also report them at https://www.ic3.gov or https://www.ftc.gov.