New Lenox police say a resident lost more than $100,000 over three months in an online cryptocurrency investment scheme that began in March and ended in early July when he became suspicious.

The unidentified resident, who is in his 50s, told officers he encountered a woman online who persuaded him to invest in Bitcoin, a type of digital currency that operates separately from a central bank.

Cryptocurrency scams target victims through texting, social media and dating websites, establish trust, convince the victim to financially participate and then try to increase the victim’s participation, according to the Federal Bureau of Investigation website.

The resident told police he wired money from his bank account and used Apple gift cards and Bitcoin machines to deposit funds in an investment platform via WhatsApp and Telegram, two cross-platform messaging applications that contain group chats and other features.

New Lenox police warn no legitimate business or government entity will request payment by means of a gift card or cryptocurrency.

Eventually the resident learned he’d earned a profit but couldn’t retrieve it without additional investment, prompting him to question whether he was being scammed.

The woman put him in touch with an individual claiming to be from the FBI to help investigate the matter, but the self-described FBI agent began to request money to investigate the fraud, prompting the resident to contact New Lenox police July 8.

The FBI will never ask for money, move communications to private messaging apps or request bank account details or personal identifying information, according to the agency’s website.

New Lenox police said the FBI is not involved in investigating the case, which it is classifying as a deceptive practice.

New Lenox officers suggest people never send money to persons they have not met in person, noting no legitimate business or government entity will request an individual’s password, personal identification number or Social Security number.

They also invite any resident questioning the legitimacy of such requests to contact the Police Department for assistance.