Cryptocurrency | CT & Westerly RI Avoid Crypto Scams

Know how to spot red flags when it comes to cryptocurrency scams

These scams are on the rise

Learn how to recognize fake offers

New and experienced investors are targeted

Safeguard your digital assets

Be aware before you buy.

The FTC has reported a 900% increase in losses due to crypto scams since the start of the pandemic, and that number grows each year.

Read the warning signs to prevent cryptocurrency fraud.

Cryptocurrency is a digital asset that uses encrypted networks to exchange, verify, and record transactions without the involvement of a centralized authority, such as a bank or government. You can purchase crypto online and in many common places, such as kiosks or ATMs found at gas stations or pharmacies. Since there's no oversight or regulation, the crypto market has become a favorite place for scammers to steal money. These tips can help you avoid falling victim to cryptocurrency scams.

Only scammers demand payments in cryptocurrency. No legitimate business is going to demand you send cryptocurrency – not to buy something, pay for something and not to “protect your money.”
Do not respond to unsolicited messages involving cryptocurrency from an unknown source. Some examples of this include messages sent on WhatsApp, Signal, Telegram, Facebook, text, email, etc.
Use caution if being shown a website or presentation involving returns on investment with cryptocurrency as even the most legitimate looking sites can be imitated.
If a cryptocurrency investment seems too good to be true, it probably is.
Never combine online dating with investment advice. If you meet someone online who wants to show you how to invest or send crypto, it’s a scam.
Be aware that you will not be able to reverse cryptocurrency transactions.

We use multiple layers of protection to safeguard your information, including secure online and mobile banking, multi-factor authentication, real time transaction monitoring, and advanced fraud detection tools. Our team actively reviews unusual activity and will contact you if we detect anything out of the ordinary.

Your security is part of our commitment to being a dependable financial partner in our communities.

If something doesn’t look right, contact us right away.

If it’s after business hours and you believe your online banking credentials were compromised, use the Forgot Password feature to reset your password immediately.

We’ll guide you through the next steps and work with you to secure your accounts.

A scam pretending to be your bank usually shows itself through urgency or unusual requests. If someone pressures you to act immediately, asks for your password or security codes, tells you to transfer money, or sends a link asking you to log in, it’s almost certainly fraudulent. Real banks don’t rush you, don’t ask for sensitive information, and expect you to use their official website or app directly.

If you believe you have been contacted by someone pretending to be from Dime Bank, please call us immediately.