Crypto or con? Don’t invest in a scam.

“They promised me I’d make a guaranteed 300% return on my investment!”

“They said my bank might try to ‘get in the way.’ I didn’t realize they were the only ones trying to help.”

“When I finally realized I’d been scammed, it wasn’t just the money. I was embarrassed.”

That’s how it starts. Today’s investment scams are sophisticated—and designed to not only appear credible, but to discourage outside input. Crypto scam victims lost an average of $62,604 in 2025, and investment fraud was the biggest category with $7.2 billion in losses, according to the FBI’s 2025 Internet Crime Report, and that number continues to rise as schemes evolve and become trickier to spot. That’s why a pause, a question, additional research or a conversation with your bank can be one of the most powerful tools you have.

How do crypto scams work?

Most crypto scams start with a striking offer on social media, online advertisements, or online dating platforms. The person you’re speaking to is unfamiliar but seems trustworthy. Maybe they’ve shared personal details with you about their own investment portfolio, or they are dedicated to teaching you how to invest. You’re directed to a legitimate third-party cryptocurrency service where your money is converted into cryptocurrency and invested into another platform that looks authentic. You may even be asked to install Remote Desktop (RDP) software, so your devices can be accessed by the person helping you invest. Once your money is sent over, you try to withdraw your funds, but you cannot. Then, you try to reach out to the person who introduced you to the platform, but either you can’t reach them, you are asked for more money, or their account has been deactivated.

Why does it work?

Scammers prey on emotions by taunting you with an offer you can’t resist, or promising quick returns that make it difficult to say no, especially when you feel the person you are speaking to is an expert or someone you trust. And, once the scam is complete, the feelings of embarrassment keep you from speaking out.

Can you get your money back?

Cryptocurrency is a mainly unregulated marketplace, and crypto accounts are not FDIC insured, so crypto payments don’t come with legal protections if something goes wrong (like a credit card). That means, once a transaction is completed, it is unlikely to be reversed. Take caution when investing in or sending cryptocurrency, especially to unfamiliar businesses or individuals.

How do I reduce my investment risk?

• Verify. Verify! Research the kind of cryptocurrency you want to invest in to verify its legitimacy, who is trying to get you to buy in, and the risks associated with the transaction. Trusted, local financial professionals are your best bet if you want to explore different investment strategies, NOT strangers you meet online!
• Don’t fall for the hype. If an offer seems too good to be true, it often is. Look out for limited-time giveaways, promises of guaranteed large investments, or fraudsters posing as financial experts.
• Don’t share your information. Cybercriminals don’t just want your money, they’re mining for your name, email, and account information. Limit what you share online and be cautious about requests for your information or access to your personal devices.
• Don’t ignore the warning signs. When your bank asks questions about a payment or transfer, it’s not a barrier. It’s one of your strongest defenses against fraud. Fraudsters will “warn you” that the bank is up to no good, but as your trusted, local bank we always have your best interests in mind.

bankHometown is looking out for you.

We’re committed to keeping you informed about the latest scams and ways to protect your money and personal information. For more information and valuable tools to help you stay safe, visit our fraud prevention webpage, stop by your nearest office, or call Customer Care at 888.307.5887.