Good morning, Hopkinton! Welcome to the daily update we call Hopkinton Today — a quick recap of yesterday’s news, highlights of what’s on tap, and a photo of the day.

Crypto scam snatches at least $2M from local victims

The Hopkinton Police Department this week reported a recent uptick in crimes involving cryptocurrency fraud, noting that more than $2 million has been stolen from local victims.

Cryptocurrencies make it possible to transfer value online without the need for a middleman like a bank or payment processor. The user creates a digital wallet for transactions. But, because the transactions are not insured by the government, payments or lost wallets cannot be retrieved, according to a Federal Trade Commission online article. Also, the value of cryptocurrencies can fluctuate.

As of Aug. 21, the top five cryptocurrency digital companies for investors are Cardano, BNB, Bitcoin, Polkadot and Ethereum, according to a forbes.com article.

HPD posted a warning via Facebook on Wednesday. It shared that victims reported using international stock trading websites to invest large sums into various cryptocurrencies.

“Over the past few weeks we have had collective potential losses reported at over $2,000,000 from various victims,” the post stated. “We remind you that it is very important to properly vet what companies you use before investing any money.”

Deputy Chief Scott van Raalten explained in an email to the Independent that cryptocurrency scams are not new, but they are hard for authorities to track.

“These types of scams tend to be cyclical, and we have indeed seen an uptick in cryptocurrency-related scams recently,” he stated. “These scammers don’t typically target a specific demographic; instead, they cast a wide net, hoping to scam a few individuals.

“While there have been some variations over the years, this isn’t a new phenomenon,” he continued. “It’s particularly challenging to investigate these cases due to the nature of cryptocurrency and the anonymity of crypto wallets.”

HPD Sgt. Detective Gregg DeBoer explained via text that some of the recent activities have involved “pig butchering,” which he described as “very prevalent in crypto scams.”

“[Pig butchering is] a term where scammers gain the confidence of their victims,” he stated, “resulting in the victim putting more money into the account before the scammers decide to make their move and complete the scam.”

Van Raalten also highlighted a related scam using information from the FBI’s website. It explained that fictitious cryptocurrency recovery law firms claim they are able to help victims retrieve their money. They tend to target vulnerable populations, including older and lower-income people. Tactics they use include impersonating actual lawyers and referencing partnerships with actual or fictitious government and regulatory agencies.

The deputy chief also shared an FBI link with information to help victims of crypto crimes.

— MARY ELLEN GAMBON

Latest News

At its meeting Wednesday, the Water & Sewer Advisory Board discussed options for wellhead protection due to the storage of salt near the town’s wells on Fruit Street.

Members of the Trails Committee on Wednesday discussed how the group should organize its priorities and addressed a prior Open Meeting Law violation.

This week’s Baypath Adoptable Animal is 5-year-old Duke, who is described as a “true family man” who looks tough but is full of love and goofy antics.

Our latest Business Profile highlights Boston Eyes in Hopkinton, a new optometry office on Main Street offering a full spectrum of integrated eye care services.

The Department of Public Works is set to close Downey Street on Monday to remove a hazardous tree.

The Hopkinton Center for the Arts will host the Stand-Up Comedy Showcase on Monday.

Photo of the Day

An area has been prepared at the corner of Main Street and Hayden Rowe Street for the statue of Boston Marathon legend Bobbi Gibb that currently stands in front of the Hopkinton Center for the Arts. The statue is slated for relocation after the completion of the Main Street Corridor Project rewiring.

PHOTO/JERRY SPAR