- Elderly brothers in Lancaster County lost over $1.3 million in a cryptocurrency investment scam.
- A separate victim lost more than $48,000 in a similar scheme, being charged a fee to withdraw his supposed profits.
- Law enforcement officials estimate cryptocurrency Scams have cost victims approximately $250,000 in Lancaster County this year alone.
Two brothers from Lancaster County, ages 76 and 77, have fallen victim to cryptocurrency fraud, losing more than $1.3 million, according to Lincoln police. The scam, which began in November 2024, involved a fraudster who claimed to invest their money in stocks and cryptocurrency through what turned out to be a fake online trading platform.
The elderly victims only discovered they had been defrauded when they attempted to withdraw funds after noticing a drop in the stock market. By then, their substantial investment was already gone.
Additional Victims Identified
The Lancaster County Sheriff’s Office reports they are investigating a separate cryptocurrency scam that cost a 40-year-old man more than $48,000. The victim had been investing from October through April 2 and was told his account had grown to $89,000. He realized it was fraudulent when informed he would need to pay $6,000 to withdraw his supposed profits.
“We believe cryptocurrency scams we are investigating have cost victims about $250,000 this year,” the sheriff’s office stated.
Protecting Yourself and Loved Ones
Law enforcement officials are urging the public to exercise extreme caution when investing online, particularly when dealing with unfamiliar individuals or platforms. They recommend having conversations with vulnerable loved ones about potential scams.
The incidents highlight the growing problem of cryptocurrency-related fraud targeting both elderly and younger investors. These schemes often involve convincing victims they’re investing in legitimate platforms, only to discover later that they cannot access their funds without paying additional fees.
For those concerned about elder fraud, resources are available through the FBI’s Internet Crime Complaint Center. More information about recognizing these schemes and filing complaints can be found by visiting the FBI’s elder fraud resource page.
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