Here is a new crypto ATM scam technique, according to the US Federal Trade Commission.
New Scam Alert
The US Federal Trade Commission has issued a warning about a new cryptocurrency scam. Scammers use an impostor, a QR code, and a crypto ATM to trick their victims into sending money.
The FTC says scammers pose as public officials, police officers, or utility workers. They also use dating apps to pose as potential romantic partners or call victims to tell them they’ve won a prize.
How to avoid being scammed
No matter how it starts, the fraudster always asks for money. To avoid being scammed, the user should withdraw cash and go to a crypto ATM.
Then they ask to buy crypto at the ATM. Here comes the QR code. They give the victim their wallet’s QR code. The purchased crypto assets would then be transferred to the fraudster’s account.
Consumer and Business Education Division Chief Cristina Miranda explains:
“Here’s the main thing to know: nobody from the government, law enforcement, utility company or prize promoter will ever tell you to pay them with cryptocurrency. If someone does, it’s a scam, every time.”
Meanwhile, a global crypto crime survey estimates that scam victims lost $7.7 billion in 2021. The figure is up 81% from 2020.
