Police warning after scammers hit bitcoin investors for £ 300,000

POLICE have issued a stark warning to anyone considering investing in cryptocurrency, after incidents in North Yorkshire resulted in nearly £ 300,000 being lost to scammers in recent months.

People claiming to be working for investment trading companies have offered to invest in computerbased bitcoin on the victims’ behalf, when in reality the money is stolen with little chance of it being returned.

Victims have been asked to download trading software and remote access software which appears to show substantial gains from the investments.

But North Yorkshire Police says this is false and simply a way of gaining access to the victims’ computer and, in some cases, their accounts too.

Detective Inspector Jon Hodgeon, who leads North Yorkshire Police’s Economic Crime Unit, said: “These fraudsters have used high- pressure sales techniques to try and convince their victims to invest quickly and without doing their research.

“They will nearly always insist on using remote access software to access and control the victims’ computer but you should never let anyone gain remote access or install software on your devices unless they are a member of IT staff in a corporate network – for example, your employer.”

He said the world of cryptocurrency investments is a “complex and dangerous one”.

If you are considering investing in this area, DI Hodgeon said you should check the Financial Conduct Authority ( FCA) Register of Authorised Crypto Asset Providers in the UK.

“It’s also prudent to seek independent financial advice before making any sizeable investments as this is a prime area for scammers,” he said.