Crypto
Westlake Police warn of scammers threatening arrest, requesting bail payment with cryptocurrency
WESTLAKE, Ohio (WOIO) – Westlake Police posted on Facebook Sunday warning residents of a scam requesting cryptocurrency payments for “preemptive bail.”
Westlake Police said in a post that a resident received a call from someone claiming to be from the Cuyahoga County Sheriff’s Office saying the resident had active warrants.
The scammer sent the resident legitimate-looking documents, according to the post.
The resident offered to turn himself in at the Justice Centers, according to the post, but the scammer said the only way to avoid arrest was to pay a “preemptive bail” at the nearest cryptocurrency machine.
The resident called Westlake Police to check the legitimacy of the call before depositing any money.
Westlake Police are reminding residents that no agency will have you pay bail with gift cards or Bitcoin.
Westlake Police also said that no company will insist you stay on the phone when withdrawing cash from the bank or guide you on what to say to the teller to avoid suspicion.
“If you receive an unexpected text, email or call, be very wary,” the post read. “Education will help stem the fear that these scammers use to get your hard earned money!”
Always be sure to independently check information and never disclose personal information or allow remote control of personal devices unless sought after, Westlake Police said.
Copyright 2024 WOIO. All rights reserved.
PHOENIX (AZFamily) — Cryptocurrency is appearing on more holiday wish lists as gift-givers look for alternatives to traditional presents.
A new survey from the National Cryptocurrency Association and PayPal shows 24% of Americans have given or are considering giving cryptocurrency this holiday season.
The survey also found that 17% of consumers would rather receive cryptocurrency than a gift card, and 31% of Americans believe crypto gifts are less likely to go unused than gift cards.
“It’s actually a trending holiday gift, especially compared to gift cards,” said Ali Tager, a spokesperson for the NCA. “We know crypto is becoming increasingly mainstream.”
Tager said people like receiving cryptocurrency because it has the potential to increase in value.
“There’s so much you can do with this technology and it’s still in its early days,” she said.
Financial advisor Angelica Prescod said there are other investment options to consider for gift-giving.
“One of them is just gifting people something simple. Maybe some shares of some stocks that you may already have, that you are gifting over, or you can give them the cash to do so and open up their own account and feel involved in the process,” Prescod said. “For most folks [cryptocurrency] is not really the go to.”
Gift-givers can also contribute to 529 plans for college and other education expenses.
“It’s that gift that potentially can keep on giving,” Prescod said.
For those still interested in giving cryptocurrency, experts recommend doing research first.
“Like with everything, anywhere, you always want to do your research. You want to make sure to verify your sources. You never want to take financial advice from strangers or click on random links that you receive,” Tager said.
The National Cryptocurrency Association offers a crypto simulator that helps users learn how to choose an exchange, set up a wallet, and send and receive cryptocurrency without spending real money.
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