Database / Investment & crypto
Crypto investment scam that sends a courier for cash
After someone is pulled into a fake cryptocurrency investment, scammers may say cash has to be handed to a courier. The FBI has warned that this pickup method is often aimed at older adults and is also used in other scams.
How it works
Contact may start as a friendly or romantic chat, an unsolicited text, or advice from someone posing as a crypto expert. The person has you download a trading app and send money to accounts they say belong to the platform. A website then shows fake profits, which encourages more deposits. When a bank blocks a transfer, or when you try to withdraw, they say the account is flagged or that cash is required for taxes, penalties, or more investing. A courier meets you at home or in public, sometimes using a dollar-bill serial number or a password as a 'code.' After the cash is taken, the fake balance may go up again, and the fee loop starts over.
Red flags
- Someone you met online wants you to invest through an app or site they chose.
- You can see 'profits' on the screen but cannot withdraw without paying more.
- They ask you to hand cash or valuables to a courier.
- They use a serial number, password, or similar code to identify the pickup person.
What to do
- Do not meet anyone to hand over cash, and do not send more money.
- Stop contact, and tell your bank and any crypto service you used.
- Report the scam at ic3.gov, including app names, wallet addresses, and bank accounts you were told to use.
- If you are 60 or older and need help filing a report, you can call the DOJ Elder Justice Hotline at 1-833-FRAUD-11 (833-372-8311). Also report at reportfraud.ftc.gov.
Where to report it
- reportfraud.ftc.gov — the FTC's report form.
- ic3.gov — the FBI's Internet Crime Complaint Center.