Key Points
- Pennsylvania’s Attorney General Dave Sunday warns residents about sophisticated Bitcoin ATM scams.
- Scammers are using personal information to trick consumers into large cash withdrawals.
Attorney General Dave Sunday has alerted Pennsylvanians about Bitcoin ATM scams. These scams involve criminals using personal information to target consumers.
Understanding Bitcoin ATM Scams
Scams often begin with a phone call, text message, email, or social media message. Sometimes, it could be an alert on the user’s computer.
Scammers aim to alarm and persuade victims to take sudden action before they realize they’re being scammed.
The scammers pose as helpers, using messages like “protect your money” and “take care of any criminal charges” while carrying out illegal activities.
They then pressure consumers into making large cash withdrawals and depositing their funds in a Bitcoin ATM to complete the transaction.
Once the deposit is made, the scammers ask the consumer to scan and send a QR code. This gives the criminals unrestricted access to the funds and often makes it impossible for victims to recover their crypto assets.
How to Avoid Getting Scammed
Attorney General Sunday believes Pennsylvanians can avoid these scams. He suggests not clicking links or responding directly to unexpected calls, texts, emails, or computer pop-ups.
He also advises consumers to be patient when conducting transactions. He notes that law enforcement and bank personnel would never rush anyone when requesting information.
Furthermore, he stated that legitimate businesses and government agencies would not request payment in Bitcoin, gift cards, or through money transfers.
Crypto users are advised to be cautious when transacting online. They are urged to avoid phishing links or emails to prevent becoming scam victims.
Authorities Take Action Against Crypto Scams
Several law enforcement agencies worldwide are taking steps to protect residents against Bitcoin ATM scams and related crypto fraud. Recently, the United States Securities and Exchange Commission (SEC) replaced the Crypto Assets and Cyber Unit with the Cyber and Emerging Technologies Unit (CETU).
The newly established CETU consists of up to 30 fraud specialists responsible for protecting retail investors from bad actors in emerging technologies.
Similarly, the Federal Bureau of Investigation (FBI) saved several Americans from losing their money through a new initiative called Operation Level Up. This initiative recovered about $285 million in losses from scams between January 2024 and January 2025.
