Naperville Police Ramp Up Warnings as Cryptocurrency Scams Surge, Costing Locals Millions Amid New State Protections

By Staff Reporter | February 16, 2026

NAPERVILLE, Ill. – The Naperville Police Department is urging residents to exercise extreme caution following a sharp rise in cryptocurrency scams targeting locals of all ages, with recent victims losing hundreds of thousands of dollars to sophisticated fraud schemes.

Since late February 2025, Naperville police have documented four cryptocurrency-related scam cases, doubling the department’s typical monthly average.[1] Victims ranged in age from 45 to 83, falling prey to tactics including romance scams, hacker impersonations, false arrest claims, and sextortion.[1] Police Chief Jason Arres stressed the irreversible nature of these crimes, noting, “When money is converted to cryptocurrency and transferred to a scammer, it’s very difficult to track that money and the odds of getting it back are very small.”[1]

A Shocking Local Case: $648K Romance Scam

The dangers hit close to home in a nearby Batavia case, where a 45-year-old resident was swindled out of $648,000 in a romance-cryptocurrency scheme.[2] The victim connected with someone posing as a Naperville investor on the dating app Bumble in August 2025. What began as a $1,000 investment in Coinbase escalated as the scammer encouraged draining retirement accounts, taking loans, and adding more funds—totaling over $648,000 by early October, when the account mysteriously emptied.[2]

This incident underscores a national trend highlighted by the Federal Trade Commission (FTC), where scammers on dating apps and social media lure victims with promises of high crypto returns, pocketing the funds directly.[2] Since 2021, over 46,000 people have reported losing more than $1 billion to such crypto frauds.[2]

Citywide Scam Losses Reach $5.5 Million

Naperville’s official resources paint a grim picture: residents lost a staggering $5.5 million to various scams in the past year alone, affecting everyone from 15-year-olds to 91-year-olds.[3] Cryptocurrency investment scams top the list, where fraudsters flaunt fake large portfolios to entice more deposits into volatile, unregulated assets.[3] “If a cryptocurrency investment seems too good to be true, it probably is,” warns the city’s fraud prevention page.[3]

Common red flags include pressure to pay via irreversible methods like cryptocurrency, wire transfers, or gift cards; demands from online “lovers” or fake officials for crypto payments; and promises of quick riches from virus fixes or ATM deposits.[4] Scammers exploit crypto’s traceability challenges, making recovery nearly impossible.[4]

Illinois Steps Up with Groundbreaking Legislation

In response to escalating threats, Illinois Governor JB Pritzker signed two landmark bills in late 2025, creating the state’s first comprehensive regulatory framework for cryptocurrency.[6][7] The laws mandate registration for all crypto operators with the Illinois Department of Financial and Professional Regulation (IDFPR), introduce consumer protections like investment disclosures, asset safeguards, and service standards, and cap daily kiosk transactions at $2,500 for new users with fees limited to 18%.[6][7]

Key measures include mandatory risk disclosures, toll-free customer service, anti-scam policies, and refunds for fraudulent transactions—especially for new customers.[6][7] “This legislation ensures Illinois residents are protected through strong scam prevention measures,” said state Sen. Laura Ellman (D-Naperville), who championed the bills.[7] The move follows FBI data showing Illinoisans lost $272 million to crypto fraud in 2024 alone.[7]

While most Republicans opposed the regulations, citing preferences for out-of-state models like those opposed by Coinbase, advocates argue it’s essential for accountability in a largely unregulated space.[6]

Expert Tips to Stay Safe

The FTC and Naperville Police offer straightforward defenses:

• Never share personal or financial info in response to unsolicited requests—legitimate entities won’t demand it via call, email, or text.[1]
• Refuse payments demanded only in crypto, wire transfers, payment apps, or gift cards.[1][3]
• Consult a trusted friend or family member before acting on urgent demands.[1]
• Report suspicions immediately: Call Naperville Police at (630) 420-6665 or file with FTC at ReportFraud.ftc.gov.[1][2]
• If scammed, contact your bank, freeze credit with Equifax, Experian, and TransUnion, and close fraudulent accounts.[3]

Better Business Bureau (BBB) research echoes these warnings, noting online purchase, phishing, and employment scams doubled locally in 2025, with crypto often the payout method.[5] “The only way to put scammers out of business is not to give them your business,” said BBB President Steve J. Bernas.[5]

Broader Trends and Community Vigilance

Naperville’s webinar on scam awareness from February 26, 2025, highlighted ongoing threats like fake warrants and investment ploys.[3] Banks like Bank Naperville warn of impersonation, blackmail, and social media phishing tied to crypto.[9] NCTV17 reports legitimate agencies never request gift cards or crypto payments—a hallmark of fraud.[10]

As 2026 unfolds, with new laws in place, Naperville residents are better equipped but must remain vigilant. Police emphasize skepticism toward unsolicited online contacts demanding immediate payments. By recognizing patterns and reporting promptly, the community can curb these predatory schemes.

For more resources, visit the Naperville Police fraud page or FTC scam tips. Stay safe, Naperville—verification is your best defense.