A fraudster recently cheated a Troy man out of $33,000 by claiming to be a federal government official offering help to safeguard his bank accounts — telling him his funds were in jeopardy, police said.

According to the Troy Police Department, the 61-year-old victim reported he was contacted by someone claiming to be from the Department of Justice. The fraudster reportedly told the man his bank accounts had been breached and his money could be stolen if he didn’t safeguard the funds, police said.

The victim was told he could secure his money if he made a wire transfer of $33,000 to Coinbase, a cryptocurrency exchange platform, and was given account information to use for the transfer, police said.

The victim transferred the $33,000 and then was contacted again and told he needed to transfer any other money he had to protect it, police said.

The man didn’t provide any more funds, and reported the crime to the Troy Police Department.

“Unfortunately, another case of somebody being swindled out of a significant amount of money from scammers claiming to be from a federal agency,” Troy Police Lt. Benjamin Hancock told The Oakland Press.

Hancock reminds residents that a legitimate federal agency or business won’t contact anyone to demand money be transferred or paid immediately.

“Fortunately, the victim did not transfer another round of funds for the second request,” Hancock said.

Police have repeatedly cautioned residents that in fraud cases such as this, it’s not likely the thief will be caught.