Authorities in Summit County say they recovered $110,000 from a cryptocurrency fraud scheme, highlighting the risks of scams that lure investors into false security.
AKRON, Ohio — The Summit County Sheriff’s Office says members of its agency helped recover $110,000 as part of an investigation into a cryptocurrency fraud scheme.
Officials say the operation dates back to October, when a Green resident reported suffering “a significant financial loss” after getting caught up in the scam. Deputies then partnered with the Jackson Township Police Department’s crypto recovery “Trace Team” to track and reobtain $110,000, though it was not specified just how much money was actually stolen. There is also no word on possible suspects in the scheme.
“The Summit County Sheriff’s Office reminds the public to remain alert regarding cryptocurrency investment scams and fraudulent investment platforms,” the department wrote in a press release. “These schemes often begin by encouraging small initial investments that appear to generate legitimate returns, creating a false sense of credibility. Once trust is established and larger investments are made, the funds are frequently transferred and become inaccessible.”
The sheriff’s office says potential investors should research and verify any available opportunity before deciding to get involved with crypto, especially online. Anyone who believes they or someone they know may have been a victim of crypto fraud is also asked to file an online complaint with the FBI’s Internet Crime Complaint Center at ic3.gov.