SPRINGFIELD, Mo. (KY3) – In 2024, the Springfield Police Department received 53 reported cryptocurrency-related scams, total losses exceeding $1.2 million. Detectives from the department’s Financial Crimes Unit successfully recovered $109,389 during the year.
As cryptocurrency scams become increasingly sophisticated and widespread, the Springfield Police Department urges residents to remain vigilant and familiarize themselves with common warning signs.
“Many victims feel ashamed for falling for a scam and will choose to quietly suffer,” said Financial Crimes Detective Mark Stewart. “Criminals are very good at what they do. Victims are not alone.”
While the types of scams vary, most share several key red flags:
- Promises of guaranteed or high returns: If it sounds too good to be true, it probably is because legitimate investments do not promise risk-free profits.
- Urgent demands, limited time offers or pressure to act fast: Scammers create artificial pressure to rush decisions that prey on emotions.
- Requests for advance payment or fees: Especially when payment is requested in cryptocurrency like Bitcoin.
- Unsolicited messages from unknown contacts: These may come via text, email, social media, or dating apps.
- Instructions to keep the interaction secret: Isolation is a common tactic used in fraud.
- Impersonation of government agencies, businesses or romantic partners: Fake identities are frequently used to build trust.
- Unfamiliar platforms that block fund withdrawals: Scam platforms may simulate investment growth but prevent access to funds.
- Requests for sensitive information: Never share wallet credentials, remote access, account information or private keys.
Anyone who believes they have been targeted or victimized by a cryptocurrency scam is encouraged to act quickly. Prompt reporting increases the chances that detectives can help.
To file a report, a victim can call 417-864-1810 or visit police headquarters at 321 E. Chestnut Expwy., Monday through Friday, from 7 a.m. to 5 p.m.
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