Lost $7,000 in a Click? Glen Rock Resident Falls for ‘Like-to-Earn’ Crypto Scam

Beware the ‘Easy Money’ Trap: Glen Rock Resident Scammed Out of $7K in Telegram Crypto Fraud—See 7 Ways to Protect Your Wallet!

the staff of the Ridgewood blog

GLEN ROCK, NJ – A resident of Glen Rock, New Jersey, has become the latest victim in a sophisticated online scam, losing a substantial $7,000 after being lured into a fraudulent investment scheme via the social platform Telegram.

Glen Rock Police reported that the victim was initially invited to join a chat group promising payment simply for reviewing and liking social media content. After receiving a small, initial payout—a common tactic to build false trust—the scammer persuaded the resident to make a larger Bitcoin “investment” with the promise of high, fast returns.

As in most cases of this nature, the funds were never recovered.

The Anatomy of the Telegram Crypto Scam

This type of fraud, often referred to as a “task scam” or “pig butchering” scam, follows a pattern designed to bypass initial skepticism:

1. Lure: The victim is contacted with an offer of easy, low-effort work (like rating content).
2. Trust-Building: The victim receives a minor payment, validating the “job” and lowering their guard.
3. The Hook: The scammer introduces a high-return investment opportunity, typically involving cryptocurrency like Bitcoin, which is difficult to trace.
4. The Loss: The victim invests a significant amount, only for the funds to vanish, and all communication to cease.

Authorities are urging all Bergen County residents to treat online offers that appear “too good to be true” with extreme suspicion.

7 Essential Steps to Avoid Being an Online Scam Victim

Protecting yourself requires vigilance and strong digital habits. The Federal Deposit Insurance Corporation (FDIC) and the Cybersecurity and Infrastructure Security Agency (CISA) recommend the following measures:

1. Verify Sender Identity: Never open emails or links from strangers. If the message is from a known contact but seems suspicious, verify with them through a different channel (like a phone call).
2. Watch for Fake Websites: Scammers create convincing fake sites (phishing pages) that mimic real company addresses by changing just one letter or logo. Always double-check URLs.
3. Protect Personal Data: Only share sensitive information (Social Security number, bank details) on sites you have verified as secure and legitimate.
4. Stay Informed on Threats: Regularly review security alerts from trusted sources like CISA to stay current on the latest scam tactics.
5. Use Strong, Unique Passwords: Use complex passwords and never reuse them across different accounts.
6. Keep Software Updated: Install and keep updated your antivirus, firewall, and email filter programs. Outdated operating systems and apps are prime targets for hackers.
7. Act Immediately: If you suspect you have been targeted or are currently communicating with a scammer, stop all communication immediately and contact your local police department.

Don’t let the promise of quick returns lead to a major financial loss.