AG Kris Mayes Warns Older Arizonans of Bitcoin Scams

Arizona Attorney General Kris Mayes urges residents, especially older adults, to be cautious of emerging cryptocurrency scams.Photo byrc.xyz NFT galleryonUnsplash

PHOENIX — Attorney General Kris Mayes issued a warning today urging Arizonans, particularly older individuals, to be on high alert for cryptocurrency scams.

These schemes often exploit people unfamiliar with digital currencies like Bitcoin, deceiving them into transferring money to fraudsters, Mayes said.

"Scammers are taking advantage of the lack of familiarity with how cryptocurrency works to scam Arizonans out of their hard-earned money," Mayes said in a statement.

"My office is committed to ensuring that all Arizonans are informed and protected against these emerging threats. I urge Arizonans to be vigilant and report any suspicious activity to our office immediately."

Tips to Avoid Falling Victim to Scams

The Arizona Attorney General’s Office offers the following advice to help residents protect themselves:

• Verify Information: Before taking any action, hang up and independently verify the legitimacy of the caller by contacting the organization directly. Never use the contact details provided by the caller, as scammers can spoof numbers to appear legitimate.
• Be Skeptical: Be wary of unsolicited calls that ask for immediate financial action. Legitimate government agencies will never ask you to transfer money via cryptocurrency, wire transfer, or gift cards.
• Only Scammers Demand Payment in Cryptocurrency: No legitimate business will demand cryptocurrency payments upfront. Such demands are always a scam.
• Secure Your Personal Information: Do not share personal information, such as your Social Security number or bank account details, with unknown callers. Avoid clicking on unexpected links in emails or messages, even if they appear to be from a known company.
• Consult Trusted Individuals: Before making any substantial financial decisions, especially those involving digital currencies, consult with a trusted family member or friend.
• Report Suspicious Activity: If something feels suspicious, report the incident to local law enforcement and file a complaint with the Arizona Attorney General’s Office.

For more information or to report a scam, visit the Arizona Attorney General’s Office website or contact their consumer protection division directly.