Michigan warns about scams targeting seniors at Bitcoin ATMs

The Attorney General of Michigan has issued a warning to residents about the rise of Bitcoin ATM scams targeting individuals in the state, particularly older adults. These scams involve perpetrators contacting victims through fraudulent phone calls and messages in an attempt to deceive them into sending money or Bitcoin to the scammers.

The scams often begin with a phone call or message claiming to be from a government agency or law enforcement entity. The scammer will inform the victim that they owe money for taxes, fines, or other debts and threaten legal action if immediate payment is not made. In some cases, the scammer may even claim that the victim’s social security number has been compromised, adding a sense of urgency to the situation.

To make the situation seem more legitimate, the scammer may provide the victim with a phone number to call back or a website to visit for more information. In some cases, the scammer may even supply the victim with an address to a Bitcoin ATM where they can deposit the funds. Once the victim sends the money or Bitcoin, it is virtually impossible to recover, as transactions involving Bitcoin are often irreversible.

These scams are particularly dangerous for older adults who may be more susceptible to falling victim to fraudulent schemes. Scammers often target older adults due to the perception that they may be more trusting and less tech-savvy, making them easier targets for manipulation.

The Attorney General warned residents to be wary of any unsolicited calls or messages asking for money or personal information, especially if they involve threats of legal action or requests for payment in Bitcoin. It is important for individuals to verify the legitimacy of any requests before taking any action, especially when dealing with sensitive financial information.

If residents receive any suspicious calls or messages, they are encouraged to report them to the Attorney General’s office or local law enforcement. By staying vigilant and informed about common scams, individuals can protect themselves and their loved ones from falling victim to fraudulent schemes targeting Michigan residents.