More than 170 people have filed complaints against an Oregon-based company called "Bitcoin Bonus" claiming the business scammed them.
According to the Better Business Bureau, the company reaches out to people saying they have a Bitcoin balance they need to claim, and they must do so between eight to 24 hours. But the Bitcoin never comes, and people are left actually spending money.
The BBB says when you see this type of urgency, it's a big clue it could be a scam.
Scammers do this so you have less time to think about what you're doing becoming easier for them to claim your money.
"Whether it's related to crypto currency or anything else, if somebody is urgently telling you to do something you need to stop take a breath, reach out and talk to somebody do your research so you don't find yourself having been taken by a scammer," said Timothy Johnston from the Better Business Bureau.
He told us the Bitcoin scam is reaching all age ranges, but reports have been showing the majority of those affected by the scam have invested into crypto currency at some point and have let the investment sit for some time.
"What we're hearing from individuals is that they're having to pay a fee to claim their bitcoin and that really should be another red flag for you to understand," Johnston said. "Individuals are losing about $70 in general and we're hearing from individuals from all across the US even here in Nevada."
If stranger is reaching out to you, asking for your personal information and financial information, don't give it out.
Johnston also said often times, scams of this type are tied into other scams.
"Whether it's in a romance scam or you get some contact on social media from a long-lost friend that's doing great in crypto that wants to help you out that might draw you in, obviously you're thinking what's it going to cost me? I'm going to make some great money," Johnston said. "Well make sure you do your research... also reach out directly to that friend through a contact you know."
He told us that more than $8 billion was lost to fraud last year and more than $3 billion of that money was related to investment type scams.
"$8 billion is significant and if a good chunk of that is related to financial investment scams and we know that less than five percent of victims report then those numbers are really under reported," he said.
If you are a victim of a scam you can reach out to the FBI's IC3 or the BBB scam tracker, both are linked in this article.