Elderly JPMorgan Chase client fell victim to $13,000 scam through deceptive contest, according to recent report
In the rapidly evolving world of cryptocurrencies, a concerning trend has emerged: an increase in scams involving Publishers Clearing House (PCH) prize claims. These scams, which are not uncommon, have become a favorite tool for fraudsters operating in the digital currency space.
Recent reports highlight the prevalence of such scams. Police and fraud alert organisations frequently warn about instances where victims are told they have won a PCH prize but are asked to pay fees or transfer money—sometimes via Bitcoin—to claim their winnings [1][3]. These scams are becoming more sophisticated, with requests to send money through cryptocurrency ATMs or via Bitcoin, reflecting the growing use of cryptocurrencies by scammers to avoid traceability [2].
PCH scams are identified as a very common form of sweepstakes fraud. Scammers often use official-sounding names and logos to appear legitimate and lure victims into sending money or revealing personal information [5]. Official warnings emphasise that legitimate PCH does not call out of the blue or require advance payments to claim prizes, and scams often use pressure tactics and cryptocurrency payments to extract funds [4].
A recent case in Northwest Portland, Oregon, saw an 87-year-old man lose $13,000 to scammers who convinced him he had won a PCH prize. The victim was told he needed to pay money to receive $850,000 and a new Mercedes SUV [1]. The scam involved the victim meeting someone at a Chase Bank branch and handing over money. The bank teller, according to the victim's wife, should have suspected fraud but allowed the victim to withdraw the funds [1].
While the cryptocurrency industry continues to grow, it is essential for users to remain vigilant against such scams. As with traditional finance, it is crucial to verify the legitimacy of any prize claims or offers before engaging.
Meanwhile, the cryptocurrency sector is also seeing positive developments. P2P.org has introduced native ETH staking to Ledger Live globally [6]. Oasis Protocol Foundation has launched ROFL Mainnet, a verifiable off-chain compute framework powering AI applications [7]. Cooking.City is bringing back value redistribution to Solana with its Fair Launches [8]. Nexo has become the first-ever digital asset and wealth partner of the DP World Tour, launching the Nexo Golf Championship [9]. The Open Platform has achieved a $1 billion valuation, becoming the first unicorn in the Web 3.0 ecosystem on Telegram [10]. Echo, the number-one DeFi protocol on Aptos, has launched a Token Generation Event [11].
PrimeXBT has also launched a 'Trade As VIP' campaign offering 70% off trading fees [12]. However, it is important to remember that while these developments offer exciting opportunities, users should exercise caution when investing or transacting in the cryptocurrency space.
References: [1] Portland Police investigating Publishers Clearing House scam that cost 87-year-old man $13,000 (July 5, 2025) [2] Scammers targeting cryptocurrency ATMs in Illinois, police say (July 2, 2025) [3] Warning: Publishers Clearing House Scam Targeting Cryptocurrency Users (June 30, 2025) [4] Publishers Clearing House Scams: What to Know and How to Protect Yourself (June 29, 2025) [5] Sweepstakes Fraud: How Scammers Use Prize-Winning Schemes to Deceive Victims (June 29, 2025) [6] P2P.org Introduces Native ETH Staking to Ledger Live Globally (July 3, 2025) [7] Oasis Protocol Foundation Launches ROFL Mainnet, a Verifiable Off-chain Compute Framework Powering AI Applications (July 2, 2025) [8] Cooking.City Brings Back Value Redistribution to Solana with its Fair Launches (July 3, 2025) [9] Nexo Becomes First-ever Digital Asset and Wealth Partner of the DP World Tour, Launching the Nexo Golf Championship (July 2, 2025) [10] The Open Platform Achieves $1 Billion Valuation, Becoming the First Unicorn in the Web 3.0 Ecosystem on Telegram (July 3, 2025) [11] Echo Launches Token Generation Event on Aptos (July 2, 2025) [12] PrimeXBT Launches 'Trade As VIP' Campaign Offering 70% Off Trading Fees (July 1, 2025)
- In the rapidly evolving cryptocurrency industry, users should be aware of scams, such as Publishers Clearing House prize claims, which have become increasingly prevalent.
- As the cryptocurrency sector continues to grow, it is crucial to remain vigilant, verifying the legitimacy of any prize claims or offers before engaging, to avoid falling victim to such scams.
- Positive developments within the cryptocurrency industry, like P2P.org's native ETH staking, Oasis Protocol Foundation's ROFL Mainnet, and Nexo's partnership with the DP World Tour, provide exciting opportunities. However, users should exercise caution when investing or transacting in the cryptocurrency space to protect their personal finances.
