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By The Bedford Police Department

The Bedford Police Department recently has seen an uptick in fraud involving Bitcoin. The police share these tips to help protect you and your loved ones from being taken advantage of by these scams:

Government agencies do not accept Bitcoin (and/or other cryptocurrencies).

Know who you are sending money to before you give it away.

Confirm with your bank before sending money to unknown people or entities.

Do not buy Bitcoin (or other cryptocurrencies, gift cards, etc.) for any of the following reasons or causes:

Deposited funds are immediately transferred to the suspects digital wallet. This process cant be reversed and the funds are gone and virtually untraceable.

Scammers are capable of making phone calls appear like they are coming from a legitimate source. Always call your local institution (bank, family members, or local police department) to confirm the validity of any claims.

Call the Bedford Police immediately if you suspect fraud even if you are instructed not to by the suspect.

The Bedford Police Non-Emergency Line is 781-275-1212.

Read more from the original source:
Bedford Police Warn: Beware of Bitcoin Fraud - The Bedford Citizen