Online Investment and "Rug Pull" Crypto Scams
Category
Crypto and Investment
Affects
Residents and businesses
Status
Active
Source
Washoe County Sheriff's Office
Criminals recruit victims into legitimate-looking investments, often crypto tokens promoted through social media, dating apps, or messaging groups, then disappear with the money. The Sheriff's Office also runs a program with local businesses to help stop crypto fraud.
How it works
- A friendly stranger, influencer, or group invites you to a can't-lose investment.
- A slick app or website shows fake gains so you keep depositing.
- When you try to withdraw, you are asked for more fees or the site vanishes.
Red flags
- Guaranteed returns, pressure to invest quickly, or a stranger giving investment advice.
- A platform you cannot verify with a regulator.
- Withdrawal fees or taxes demanded before you can get your money.
What to do
- Stop sending money and keep all screenshots, wallet addresses, and messages.
- Report to the Sheriff's Office (fraud hub), FBI IC3, and the Nevada Attorney General.
- Beware of recovery services that contact you afterward. They are often the same criminals.
Already paid or shared information? See the step-by-step checklist and the list of places to report. You can also report to the FTC or the FBI IC3.
Sources
WCSO warns of rug pull scams (Washoe Life) · WCSO and local businesses vs crypto fraud (Washoe Life) · WCSO Fraud Awareness Hub
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Posted solely for community awareness. This is not an official government or law enforcement notice, and High Sierra Cyber is not affiliated with any agency named here. Board last updated October 10, 2026. Details, phone numbers, and policies change, so confirm with the official agency before acting. Submitted reports are unverified. General information only, not legal or financial advice.