Woman Loses  $204K in Bitcoin ATM Scam

A recent crypto scam has defrauded a woman of more than $204,000. The victim, whose name is Sue, reportedly encountered a pop-up message on her laptop pretending to be a security alert. With insincere urgency, this message instructed her to call a provided phone number, leading her into the scammer’s trap.

Upon contacting the number, Sue was deceived by a scammer who convinced her that $14,500 was at risk of theft from her account. She was instructed to withdraw the money and deposit it into a Bitcoin machine to secure her funds. 

“He said somebody’s trying to take $14,500 out of your account but he said we’ve got to secure the rest of your money,” said Sue. “So, he had me go down, withdraw the money, $14,500. And put it in a Bitcoin machine. So that’s what I did.” She said

Over 13 days, she made multiple deposits into Bitcoin ATMs at various convenience stores under the impression that she was protecting her assets.

According to the report, Sue’s friends made attempts to stop her but she declined, describing that the scammer has already predicted they would try to stop her but she should not listen and that all her devices are hacked.

Following this, experts highlight the greedy nature of crypto scammers who aim for sums, manipulating victims into making large deposits into Bitcoin ATMs. Retired IRS special agent Brian Watcon emphasizes the simplicity yet danger of these transactions. Victims are often given a QR code and falsely believe they maintain control over their funds during the process.

Watcon advises the public to exercise caution, suggesting that immediate reactions to such alerts can lead to financial losses. Instead, he recommends verifying any security concerns by directly contacting financial institutions through their official contact details. This case is a reminder of the importance of skepticism and the need for second opinions when faced with financial threats.

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2024-02-13 01:56