On August 11, 2022, the FTC issued an alert warning consumers of scammers demanding utility payments in cryptocurrency. According to the FTC, utility scams are increasing where scammers pretend to be a utility company threatening to immediately turn off a consumer’s service. The latest twist on utility scams is asking consumers to pay in Bitcoin or another type of cryptocurrency.
In its consumer alert, the FTC described what a utility scam looks like and what a consumer needs to do when they get a text or a call demanding payments of their utility in cryptocurrency.
The FTC’s consumer alert can be found here.
