Attorney General Gentner Drummond is warning Oklahomans about the rise in Bitcoin ATMs scams that leave victims with depleted bank accounts.>> Related Video Above: Scammers pose as legitimate businesses to trick consumersBitcoin ATMs are virtual currency kiosks found in grocery stores, gas stations and malls, and they look like traditional ATMs. These ATMs, however, allow people to buy and send virtual currencies known as Bitcoin, Ethereum and Tether.According to a news release, scammers use various tactics to convince victims to withdraw money from their bank account and deposit it into an unregulated virtual currency kiosk. The Attorney General Office says the victims are usually elderly.The news release says one method used in Oklahoma involves scammers convincing someone that their bank account is about to fail. They then persuade the victim to empty their account and deposit funds into the kiosk.>> Download the KOCO 5 AppThe virtual currency is then sent to the scammer’s crypto wallet through a transaction that usually cannot be reversed.”It’s important for Oklahomans to stay on alert about virtual currency and other banking scams,” Drummond said in the news release. “Never pay anyone who demands an advance payment in cryptocurrency – only scammers demand this type of payment.” The Attorney General’s Office also warns of these other types of scams:Romance scams: Con artists create a fake online profile and then target individuals to gain their trust over time, before asking for money.Pig butchering: Victims receive an unsolicited text message from an unknown number and the scammer then works to convince the victim to make phony investments.Investment adviser scams: Victims are asked to make investments on bogus trading platforms. Scammers pretend to show victims investment gains and convince them to transfer increasingly larger amounts of funds to the investment before the victim is locked out of the account and unable to recover their money.Computer anti-virus protection: Victims receive a fake pop-up alert on their computer with a message to call a help-desk number for anti-virus protection. Scammers then post as customer service staff and convince victims that hackers have access to their bank account. They then convince victims to convert their funds to cryptocurrency at a kiosk.Impersonation: Con artists claim to represent the IRS, FBI or another official agency and threaten victims, scaring them into making virtual currency payments.Get the latest news stories of interest by clicking here.Authorities remind people not to pay anyone who asks for advance payment in the form of cryptocurrency, gift cards or money transfers. If asked to withdraw cash from a bank account, they say not to provide any personal information to the person asking.People should then contact a relative or friend for advice. Anyone who believes they might have fallen victim to a banking scam should contact the Oklahoma Attorney General Office at consumerprotectino@oag.ok.gov or 1-833-681-1895.Top Headlines No one puts the Bananas in a corner: Savannah’s baseball team goes viral for ‘Dirty Dancing’ routine USGS: 2.6-magnitude earthquake recorded late Monday near Edmond CDC issues warning for morel mushroom seekers amid foraging season Stanley launching ‘electrifying’ collection with set of neon-colored tumblers TIMELINE: Storms could produce 1-inch hail late Wednesday in western Oklahoma
Attorney General Gentner Drummond is warning Oklahomans about the rise in Bitcoin ATMs scams that leave victims with depleted bank accounts.
>> Related Video Above: Scammers pose as legitimate businesses to trick consumers
Bitcoin ATMs are virtual currency kiosks found in grocery stores, gas stations and malls, and they look like traditional ATMs. These ATMs, however, allow people to buy and send virtual currencies known as Bitcoin, Ethereum and Tether.
According to a news release, scammers use various tactics to convince victims to withdraw money from their bank account and deposit it into an unregulated virtual currency kiosk. The Attorney General Office says the victims are usually elderly.
The news release says one method used in Oklahoma involves scammers convincing someone that their bank account is about to fail. They then persuade the victim to empty their account and deposit funds into the kiosk.
The virtual currency is then sent to the scammer’s crypto wallet through a transaction that usually cannot be reversed.
“It’s important for Oklahomans to stay on alert about virtual currency and other banking scams,” Drummond said in the news release. “Never pay anyone who demands an advance payment in cryptocurrency – only scammers demand this type of payment.”
The Attorney General’s Office also warns of these other types of scams:
- Romance scams: Con artists create a fake online profile and then target individuals to gain their trust over time, before asking for money.
- Pig butchering: Victims receive an unsolicited text message from an unknown number and the scammer then works to convince the victim to make phony investments.
- Investment adviser scams: Victims are asked to make investments on bogus trading platforms. Scammers pretend to show victims investment gains and convince them to transfer increasingly larger amounts of funds to the investment before the victim is locked out of the account and unable to recover their money.
- Computer anti-virus protection: Victims receive a fake pop-up alert on their computer with a message to call a help-desk number for anti-virus protection. Scammers then post as customer service staff and convince victims that hackers have access to their bank account. They then convince victims to convert their funds to cryptocurrency at a kiosk.
- Impersonation: Con artists claim to represent the IRS, FBI or another official agency and threaten victims, scaring them into making virtual currency payments.
Get the latest news stories of interest by clicking here.
Authorities remind people not to pay anyone who asks for advance payment in the form of cryptocurrency, gift cards or money transfers. If asked to withdraw cash from a bank account, they say not to provide any personal information to the person asking.
People should then contact a relative or friend for advice. Anyone who believes they might have fallen victim to a banking scam should contact the Oklahoma Attorney General Office at consumerprotectino@oag.ok.gov or 1-833-681-1895.
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Read More: Oklahoma AG warns of rise in scams involving Bitcoin ATM
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