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by Karris Harmon
OKALOOSA COUNTY, Fla. — Two investors in Okaloosa County are out a combined more than $1.1 million, as the sheriff's office says the pair were victims in the latest cryptocurrency scam.
Law enforcement says the thieves used third party messaging and social media to hook their victims.
According to the Okaloosa County Sheriff’s Office, a 64-year-old victim was approached about a new investment opportunity.
“He got an unsolicited text, it links him with the WhatsApp group," says senior investigator Nathaniel Bowen with the Okaloosa County Sheriff's Office.
WhatsApp is a platform typically used by people overseas.
Victims are asked to send money by bank wire or through cryptocurrency exchanges — sometimes even clicking on malicious links.
“Victims then click, it goes to websites where a victim may fill in sensitive data information," Bowen said. "And then from there not only do the fraudsters have your sensitive data and information, all other kind of fraud, even apart from crypto fraud, can spring from that.”
When it comes time to withdraw the money, victims hit a wall.
“There’s no way to withdraw the money legitimately," Bowen said. "There might not even be a button for it. And then after that, there’s taxation that they want to talk about, there’s fees that are associated. Will you pay the tax now? There’s a fee or something — they just carry on the scam.”
It's the same fate another 72-year-old faced, according to the sheriff's office.
Meanwhile in Walton County, deputies posted on Facebook saying a 70-year-old man was also scammed out of $400,000 after being messaged on social media about a crypto investment.
Both agencies are warning people to do their homework before investing — whether that be with your bank or law enforcement.
“I’d rather have an investigator spend a day or two double checking an investment for someone making sure that it’s a legitimate investment, so to speak, versus having somebody that now in the situation is out at $400,000 and ultimately at the end of the investigation we may or may not be able to recover those funds," said major Dustin Cosson with the Walton County Sheriff's Office.
The latest data from the FBI shows more than 69,000 people reported cryptocurrency investment scams in 2023—totaling more than $5.6 billion in losses.
To report a scam or learn more, visit ic3.gov.
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