A Georgia couple has recovered cryptocurrency stolen during an impersonation scam after investigators traced the funds across several digital wallets. The elderly victims live in Oconee County and received their assets following a court order.
The Georgia Attorney General’s Office worked with the Oconee County Sheriff’s Office and the Georgia Bureau of Investigation. Together, the agencies tracked, seized and returned the cryptocurrency to the couple.
Fake Officials Direct Couple to Crypto Kiosk
The Georgia cryptocurrency scam began with a pop-up warning on the couple’s device. The message claimed that someone had compromised their bank account. It then instructed them to contact a person for help.
According to state officials, the scammer posed as a Federal Trade Commission representative. The caller persuaded the couple to withdraw money from their bank account. The victims then deposited the funds into a cryptocurrency kiosk.
The scammer stayed on the phone throughout the process. Investigators said the caller also coached the couple on how to respond if bank employees questioned the withdrawal. This approach helped the scammer prevent others from stopping the payment.
Government agencies do not instruct people to withdraw bank funds or deposit money into cryptocurrency kiosks. The FTC also warns consumers against sending cryptocurrency to businesses or individuals who demand advance payments.
Investigators Trace Funds Across Crypto Wallets
After the kiosk converted the couple’s money into cryptocurrency, the scammer moved the assets through multiple digital wallets. Criminals often transfer crypto quickly to make transactions harder for investigators to follow.
Investigators traced the transfers despite the movement between wallets. The three Georgia agencies then located and seized the assets. A court later authorized officials to return the recovered cryptocurrency to the Oconee County couple.
Georgia Attorney General Chris Carr credited cooperation between state and county investigators for the recovery. “Our White Collar and Cyber Crime Unit is on the forefront of this fight – disrupting crypto scams, tracing transactions and recovering stolen funds,” Carr said.
Carr added that scammers often target older adults. He said these cases require close cooperation among law enforcement agencies due to the technical nature of cryptocurrency transactions.
GBI Director Chris Hosey also advised residents to confirm the identity of anyone requesting money or financial information. “Verify who it is you’re talking with,” Hosey said. “If it looks too good to be true, it’s probably not.”
Georgia Urges Victims to Report Scams Quickly
The GBI advises cryptocurrency scam victims to contact authorities within 24 hours. Early reports give investigators more time to trace transactions before scammers transfer the funds into other wallets or accounts.
Victims can report suspected fraud to local law enforcement, the FBI’s Internet Crime Complaint Center and the Federal Trade Commission. Reports should include transaction records, wallet addresses, kiosk receipts, phone numbers and messages linked to the scam.
Georgia has also introduced requirements for cryptocurrency kiosks. Operators must warn customers that fraudulent crypto payments may not be recoverable. The notices must also explain that cryptocurrency transactions are generally irreversible.
Officials advise residents to be cautious when an unexpected caller claims that a bank account, computer or cryptocurrency wallet faces a security threat. Requests for immediate crypto payments, secrecy or instructions on answering bank employees can indicate fraud.
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