Agent Lane robot mascotAgent Lane
Menu

Guide

Crypto scams targeting older parents: how to help

Short answer: Talk early, before anyone asks your parent for money. Agree on a few simple rules: nobody honest demands payment in crypto, gift cards or a wire; hang up and call back on a number you look up; and check with family before sending money. If money is already gone, call the National Elder Fraud Hotline at 1-833-372-8311 and report it.

By Agent Lane Editorial · Page dated 3 November 2026

How common are scams against older adults?

Very. In its 2025 report, the FBI says people aged 60 and over filed 201,266 complaints and reported $7.7 billion in losses, up 59 percent on 2024. The average loss was $38,500, and 12,444 people lost more than $100,000. Crypto was involved in 42,271 of those complaints and about $4.3 billion of the losses.

Which scams should I warn my parents about?

  • Government or company impersonators who say there’s a problem with taxes, Social Security, a bank account or a computer. The FTC says scammers can fake the name and number on caller ID.
  • Grandkid or family emergencies. The FTC warns a voice clone can sound just like a loved one asking for money and secrecy.
  • Online romance and investment pitches. The FTC says anyone met on a dating site or app who wants to show you how to invest in crypto is a scammer.
  • “You’ve won” prizes that need a fee first.
  • Crypto ATM instructions. The FTC says scammers tell people to go to a cryptocurrency ATM and send money to a wallet. The FBI logged 13,460 crypto ATM complaints and $389 million in losses in 2025.

How do I bring it up without embarrassing them?

Make it about the scammers, not about them. The FTC’s “Pass It On” campaign starts from the fact that most people know someone who has been scammed, even if they never mention it, and that sharing what you know helps. Mention a scam you read about, ask whether anyone has tried it on them, and share the FTC’s free handouts on each scam type.

What simple rules can a family agree on?

  1. Crypto, gift cards or a wire means stop. The FTC says never pay someone who insists on cryptocurrency, a wire transfer, a payment app or a gift card.
  2. Hang up and call back on a number you look up yourself, never the one the caller gives.
  3. No secrets about money. The FTC’s advice is to stop and talk to someone you trust before doing anything else.
  4. Agree on a family code word for real emergencies, as FINRA suggests, so a cloned voice can’t pass.
  5. Don’t give out personal details on request. The FTC says honest organizations won’t call, email or text to ask for your Social Security, bank account or credit card numbers.

A shared tool helps: the 10-question crypto scam checklist asks the same questions in plain words.

What signs suggest a parent is caught up in a scam?

  • A new online friend or “adviser” they won’t talk about.
  • Talk of a crypto opportunity, a crypto ATM, or buying gift cards for someone.
  • Being told to stay on the phone while they go to the store or the bank. The FTC describes exactly this in gift card scams.
  • Urgent requests to move money “to keep it safe.” The FTC says it will never tell anyone to transfer money to protect it.

What if money has already been sent?

Act the same day. If they paid in crypto, the FTC says to contact the exchange or crypto ATM operator right away, say it was fraud, and ask for a reversal. If they paid with gift cards, call the number on the back of the card and ask for a refund. Then report it at ReportFraud.ftc.gov and ic3.gov.

The Justice Department’s National Elder Fraud Hotline, 1-833-372-8311 (1-833-FRAUD-11), helps people affected by elder fraud, Monday to Friday, 10 a.m. to 6 p.m. Eastern. Be ready for follow-up scams: the Justice Department warns of callers pretending to be the hotline, and the FBI says it never charges to recover money.

Sources

Checked 3 November 2026 on each organization’s own site.

Related guides

All guides