A warning has been issued to keep people safe from malicious trading site scams.
Derbyshire Police's Cyber Crime Unit says Crypto investment scams are increasing and becoming a real problem.
Jodie Nevin, Cyber Protect Officer for Derbyshire, said: "Social media adverts are being used to lure people into depositing small amounts of investment money with malicious trading sites.
"Scammers then pretend the investment has made a profit and convince victims to deposit more."
Once the victim has committed more funds the scammers pretend to personally manage the victims trading account. Shortly after the investment makes a loss and the victim is told they need to pay the shortfall. If the victim ever tries to withdraw funds they find no option to do so
There are many malicious sites being used for this but the most prominent ones encountered recently is http://coinipop.com and http://coin-bits.com. These sites are linked and work together to facilitate the fraud. They have positive fake reviews and social media pages which police say help to trick people into believing they are legitimate.
Jodie said: "Do not use these sites. They are fraudulent. Please help to protect other people from becoming victims by raising awareness of these fraudulent sites."