Police warn against big crypto scam

10.05.2023 - 11:11
Police warn against big crypto scam
Many Faroese people have lost large amounts of money lately in an extensive crypto scam. They should not expect to get their money back, says police
Celebrity-endorsed Bitcoin scams are doing the rounds these days

Faroese police have received several reports lately from people who have lost money in crypto scams.

In most cases, they have seen an advert on Facebook in which celebrities tell of the fortunes they amassed by investing in Bitcoin.

The adverts link to websites that look professional but are, in fact, scam sites.

Millions down the drain

“We have had eight reports of people being caught in a crypto scam this year. The amounts they have lost range from a few thousand krónur to a few hundred thousand, and one has lost more than DKK 1 million.” says Heri Andreasen, the head of criminal investigations at the Faroese police.

”It can be difficult to distinguish between legit crypto sites and scam sites, but I would urge everyone who is new to investing, whatever the asset, to contact an experienced investor or a financial advisor before parting with their money.”


Read the Faroese version of this article here.

More Faroese News in English.

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