A WARNING has gone out to resdients in York and North Yorkshire about a scam doing the rounds.

North Yorkshire Police’s head of economic crime has urged residents to be extra vigilant following a recent spike in online cryptocurrency investment scams.

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Detective Inspector Janine Mitchell, Head of Economic Crime, has urged residents to remain vigilant to the scammers and take great care before thinking about investing in cryptocurrency investment schemes advertised online.

She said that during May, Action Fraud data has shown a total of more than £105,000 has been stolen from 15 people residing in our area.

They have each fallen victim to Bitcoin or other cryptocurrency scams where they have agreed to pay advance fees on the promise of receiving something valuable in return.

In some cases, there have been a series of further fees demanded or the fraudster will simply disappear – leaving victims thousands of pounds out of pocket.

DI Mitchell said: “This is clearly a very worrying trend and the crimes are having a deep impact on the victims who are mostly aged in their 30s, 40s and 50s.

“They feel like they have been suckered in and that they should have known better than to fall into such a trap, but that’s entirely down to the persuasive tactics used by the scammers.

“Please don’t ever feel pressured into anything that you are not sure of and always remember the wise old saying, ‘if it’s too good to be true, then it probably is’.

“If you want to make investments, we urge you to follow the Action Fraud ‘Take Five to Stop Fraud’ advice to help protect you and your money.

"If you think you have been a victim of fraud you should report it to Action Fraud, the UK’s national fraud reporting centre, by visiting www.actionfraud.police.uk or calling 0300 123 2040.

"It is important to report all fraud-related incidents to Action Fraud to help build a national picture and help prevent others falling victim to scams."