Market News

Protecting Green Bay: Unveiling the Alarming $273,893 Crypto Scam Losses Among Local Residents Since 2020

Alarming, Among, BAY, Crypto, Green, Local, Losses, Protecting, Residents, Scam, Unveiling

Green Bay Residents Lose $273,893 in Cryptocurrency Scams

Green Bay Residents Lose $273,893 in Cryptocurrency Scams


GREEN BAY – Over two dozen Green Bay residents have reported $273,893 lost through cryptocurrency scams since 2020, the Green Bay Police Department announced Wednesday.

2023: 15 Cases for $195,200

Of that amount, nearly $200,000 was reported stolen in 2023 in 15 cases.

Recent Case

Police said that in all, 28 crypto scams have been reported since 2020. Most recently, a Green Bay man reported $37,700 missing after he deposited the cash into a Bitcoin ATM while following instructions from a suspected scammer network.

Breakdown of Reported Cases

  • 2023: 15 cases for $195,200
  • 2022: 3 cases for $34,577
  • 2021: Eight cases for $35,216
  • 2020: Two cases for $8,900

Scammers’ Tactics

According to police, scammers have impersonated well-known companies or government agencies and will try to convince people they need to resolve some kind of “crime, legal fee, fraud, hacking, identity theft, technical or package delivery issue,” police said in a press release. These scammers will give instructions for transferring the money and will often offer to remain in contact with their targets until the transaction is finished.

Tips to Avoid Scams

  • He said a legitimate company or government entity will not ask anyone to pay in Bitcoin or any other cryptocurrency.
  • He also advised people not to give out their Social Security number or give remote access to their tablet, phone or computer if you’re unsure of who’s receiving it. “When in doubt, hang up the phone or end the conversation,” Brester said.
  • He also said that it’s “difficult” to track these scammers and “rare” to recover money from them.

What to Do If You’ve Been Scammed

Police say anyone who thinks they might have fallen for a financial scam should contact their bank and their local police department as soon as possible. You can also file a report with the Federal Bureau of Investigation (FBI) Internet Crimes Complaint Center at

Contact Information

Rebecca Loroff is a breaking and trending news reporter for northeastern Wisconsin. Contact her at [email protected].

Leave a Comment