Wausau Police Department Sees Increase in Scams Involving Cryptocurrency ATMs

Tuesday, June 11th, 2024 -- 12:00 PM

The Wausau Police Department is seeing a troubling increase in scams involving Cryptocurrency ATMs.

These scams are similar to previous gift card scams but with a new twist: scammers are now instructing victims to deposit large sums of cash into Cryptocurrency ATMs.

Common scam scenarios include Grandchild in Trouble: Scammers pose as a grandchild involved in a traffic accident.

Computer Hack: They claim your computer has been hacked.

Bank Fraud: They pretend to be your bank, informing you that your account has been compromised. The scammer will insist that the money needs to be placed into an “uncompromised account” via a Cryptocurrency ATM.

Once the cash is deposited, it’s very difficult and often impossible to trace or recover. There is no legitimate reason for any business or individual to require you to use a Cryptocurrency ATM.

If you receive one of these calls, hang up immediately. Scammers may be rude, make threats, or get angry; don’t let this pressure you. Do not answer any further calls from that number. For grandchild scams, contact the family member directly to confirm their safety.

For computer or bank account scams, call your bank directly using a known, trusted phone number. Report the call to IC3.gov, reportfraud.ftc.gov, or your local law enforcement agency. Stay vigilant and protect yourself from these scams.

If in doubt, always verify independently and report suspicious activity.

Feel free to contact us with questions and/or comments.