Local PDs take measures to stop Bitcoin scams

OSHKOSH, WI—(WISS)—In a proactive approach to crime prevention and a way to stop people from falling victim to a scam and losing money law enforcement agencies across Winnebago County are placing signs next to Bitcoin ATMS. These signs warn people using the ATMs to purchase cryptocurrency of the common scams the police are seeing.

Kate Mann, Public Affairs and Crime Prevention Officer with the Oshkosh Police Department, states that in the last four years, they’ve seen people lose nearly half a million dollars in Bitcoin and cryptocurrency scams.

“Since 2021, we’ve had over 35 of these scams, specifically involving the Bitcoin ATM scams,” Mann said. “And that came with a loss of over $485,000.”

The posters placed next to BitCoin ATMS are designed to get people to slow down and think about what they are doing.

“ We wanted to look for a new, innovative way to get the information out to citizens. You know, we tried talking with media, doing interviews,posting on social media, going out in the community, doing presentations, and this is just another opportunity for us to get information out to people and especially the source too,” Mann said. 

She added, “So we wanted to put this poster up next to one of those ATMs and it says, ‘Stop! This could be a scam!’ It has a series of questions to get people thinking that, ‘Wow! This caller might be a scammer!’ And to pause and really think about it before they put that money into the machine.”

Stopping the Scam

Mann said the scams using Bitcoin come in several different forms, many of which are very convincing.

“You know, sometimes they make it seem like it’s an emergency. Like their grandchild is in trouble. They need to make this payment right away. Some other stories that we’ve heard scammers use are that they missed jury duty or they have a warrant out for them and this is how they make a payment for that,” Mann said. “The other day we had somebody receive a message on their computer saying it was from computer support and they needed to go to the Bitcoin atm. So there’s really a variety of scams out there involving these  ATM machines.”

Many scammers use fear, a sense of urgency, or claim emergencies to get people to act quickly.

“ Like, ‘Oh, you have to do this right now!’ Either it’s an emergency or they’re making it sound very scary. Like, there’s gonna be consequences if you don’t,” said Mann. “I always tell citizens when I’m out in the community talking about it, that just because it’s this person’s emergency doesn’t necessarily mean it’s yours. And to just slow down and verify what’s going on.”

Mann said the best way to deal with any caller who is claiming an emergency or an urgent situation is to hang up. Then call the agency directly through known phone numbers or channels to verify the situation. If a caller claims your grandchild or other loved one is in danger, call that grandchild. If a caller claims you have a warrant out call the police department directly to check on the validity of the situation.

“ Before they put money into the Bitcoin ATMs or buy gift cards, anything like that to just stop real quick and verify the story. And that might involve hanging up and calling directly to the person you know that can verify it before sending the gift cards out or sending their money.” She emphasizes,“Because once that money’s gone, it’s really hard to get back.”

If you have been a victim of a Bitcoin or cryptocurrency scam, or if you think someone is trying to scam you, contact your local police department.