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Market News

Victim Loses $9K in Bitcoin to ‘Grandparent Scam.’

Written By Iyiola Adrian
Published 2024-01-20·Updated 1 year ago
Make The Crypto Times preferred on GoogleGoogle
Bangor Police Alert: $9,000 Lost in Bitcoin Scam

The Brandon Police Service is cautioning residents about fraudsters impersonating grandchildren in need of urgent financial assistance. This notorious ‘grandparent scam’ recently swindled a Brandon senior out of $9,000 in Bitcoin. 

According to a report from the FBI in 2023, the scammers begin by phoning victims and pretending to be a relative in legal trouble after an accident. They claim to need money immediately for bail or hospital bills. In some cases, a second scammer poses as the relative’s lawyer to arrange the payment.

Brandon police say over 30 Brandon residents received these fraudulent calls on Wednesday alone. While most recognized the scam, one victim unfortunately sent $9,000 in Bitcoin to the criminals. Police are currently investigating this incident.

Also Read: Jonesboro Scam: $10k Bitcoin Loss, Utility Alert in Arkansas

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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