Scammers tell you to protect your money by moving it — Don't fall for this line

News 8 On Your Side tells you what to look out for.

Cryptocurrency has become the preferred method of money transfer for scammers.There are several scams out there right now that involve someone claiming they are law enforcement or with some kind of government agency.They tell you they have spotted fraud or criminal activity related to one of your accounts.Once they have your attention, they'll give you the solution to the problem they just created by telling you to 'protect your money by moving it.

No matter what the caller says, there's no such thing as a government Bitcoin account or digital wallet. There are no Bitcoin federal safety lockers. Only a scammer will give you a QR code to 'help' you deposit your life savings in a Bitcoin ATM.Protect yourselfNever move or transfer your money to protect it. Your money is fine where it is, no matter what the scammer is telling you.Call your bank, broker, or investment advisor. Don't use any numbers the caller gives you.

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