What Is the Wrong Number Scam?
December 9, 2025
We’ve all received calls or texts from people who mistakenly dialed our number. Usually, we respond “Wrong number,” the person apologizes, and that’s that. But some scammers are using that interaction as an entry point for launching an investment scam, often involving cryptocurrency.
How the Scam Works
- Unexpected contact: You receive a message or call from someone claiming to have reached you by accident. Or someone reaches out to you randomly through social media or a dating app.
- Building trust: The scammer continues the conversation and tries to develop a friendship or romantic connection over many months, often sharing personal stories or photos that show off their lavish lifestyle.
- Investment pitch: Once trust is established, the scammer offers to show you how to set up an account and invest in cryptocurrency or other “exclusive” opportunities. They’ll walk you through the process step by step, exchanging screenshots with you. In the app or website, you’ll see your “profits” increase at an amazing rate, and the scammer will pressure you to invest more and more.
- The trap: When you try to withdraw your money, you’re hit with high unexpected fees or you find your account locked. The investment site stops working, the scammer disappears, and your funds are lost.
Red Flags to Watch For
- Unsolicited messages from strangers, no matter how friendly the person seems.
- Requests to move conversations to private apps.
- Reluctance to meet in person or video chat.
- Promises of guaranteed returns or exclusive deals.
- Investment apps or websites that look legitimate but have slightly different names or URLs from reputable sites.
- Increasing pressure to invest, which may include suggestions that you use equity in your home or borrow money from other people.
- Surprise fees that you’re told cannot be paid from your profits, only from your bank account.
What to Do If You Suspect a Scam
- Stop all communication with the individual.
- Contact RCU’s Fraud team at 1 (800) 479-7928 or online.
- Report the incident to law enforcement.
- Share your experience with friends and family to help protect them and others.
You’re Not Alone
Scammers target people from all walks of life, regardless of age, education level, or financial status. If you’ve been affected, know that it’s not your fault, even if you were the one clicking and making investments. These schemes are intricately designed to be convincing and to manipulate your emotions.
Remember: Redwood Credit Union is here for you. We care about your financial safety and well-being, and we want to help you protect your money. Reach out to us anytime.
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PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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