The Washoe County Sheriff's Office is warning people about a recent increase in online "rug pull" scams.

These are scams in which criminals recruit victims to put money into what appear to be legitimate investments, frequently using cryptocurrency, before disappearing with the money.

Community members have reported losses in the hundreds of thousands of dollars, according to a release from the WCSO.

Scammers have been targeting victims through platforms such as fake TikTok storefront accounts, Facebook Groups and Marketplace, and others.

The Sheriff's Office provided a point-by-point breakdown of how the scam works.

Scammers create an investment accessible through online profiles and payments.

This investment is then promoted through email, social media, direct messages, online ads,

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