The Kauai Police Department warns the public, especially kūpuna, about a “fast-growing” cryptocurrency scam on the island.
Known as a “pig butchering” scam, scammers build trust over time with the victim to emotionally manipulate them into making financial decisions.
How it works: Posing as friendly individuals, scammers contact victims through social media, phone calls or text messages. They build a relationship with their victims over time, eventually convincing them to invest in cryptocurrency with the promise of high returns. The investment, however, is fake. Once the victim transfers their funds, the scammers disappear with their money.
KPD encourages family members and caregivers to review the following warning signs and safety tips with elderly loved ones.
Warning signs:
- Unsolicited contact from a stranger who often poses as a potential friend or romantic interest.
- Promises easy, high returns through cryptocurrency investments.
- Requests to act quickly or to keep the matter secret from others.
- Puts pressure on victims to send money or use unfamiliar cryptocurrency platforms, apps or machines.
Protect yourself:
- Never send money or cryptocurrency to someone you’ve only met online.
- Be skeptical of all unsolicited messages, especially those from people you don’t know personally.
- Avoid downloading unfamiliar apps or clicking on suspicious links or QR codes.
- Check with family members or trusted friends before making any financial decisions.
KPD urges all residents to be vigilant and to take any precautions necessary to protect yourselves and loved ones from this scam. Report any suspicious calls or message to KPD Dispatch at 808-241-1711.
