Okaloosa County, Oct. 30, 2025—Multiple victims during October have reported financial losses—in excess of $1.1 million—to the Okaloosa County Sheriff’s Office due to fraudulent cryptocurrency investment scams.

Victims typically meet the scam perpetrator via a social media platform about an interest in investing in a new type of cryptocurrency.

Perpetrators afterwards communicate with the victims using a third-party text app such as WhatsApp or Telegram. 

Victims are requested to send money via bank wire transfer with a SWIFT code to an overseas bank or to a cryptocurrency exchange account. 

They are also directed to a fabricated website (usually hosted in Asia) which shows the victim’s “cryptocurrency balance” making a rapid and substantial profit.

However the victim is unable to withdraw their money and told to send additional money for taxes, fees, legal expenses etc. to receive their funds. They never get the money.

How to protect yourself and your cash

• Be extremely cautious about unsolicited investment offers online.
• Never send money to anyone you’ve only met on the internet.
• Verify you are dealing with a legitimate and licensed cryptocurrency exchange or broker.
• If it sounds too good to be true—it is.

Victims believed to have been targeted or victimized by a cryptocurrency scam, contact the OCSO at 850-651-7420.

OCSO news release