UK, Montana Police Warn Millions Lost to Cryptocurrency Impersonation Scams

Cryptocurrency scams are increasingly sophisticated and costly, with recent incidents highlighting significant financial losses in the UK and Montana. North Wales Police reported a £2.1 million Bitcoin scam where fraudsters impersonated UK police officers, exploiting a data breach and convincing victims to enter passwords on fake websites. In Montana, officials including State Auditor James Brown and Billings Police have warned residents about scams involving cryptocurrency ATMs, with losses totaling around $600,000 in 2023 and individual victims losing tens of thousands of dollars. These scams often involve impersonation of officials, fake investment schemes, and demands for Bitcoin payments, with scammers targeting vulnerable populations through tactics like AI-generated voices and romance scams. Authorities emphasize that cryptocurrency transactions are irreversible, stressing the importance of vigilance and skepticism towards unsolicited requests or urgent claims. General advice to prevent impersonation scams includes verifying contacts independently, not sharing sensitive information unless initiating contact, and recognizing common scam tactics designed to induce fear and urgency.