Nov. 18, 2025

Beware of cryptocurrency ATMs

A cryptocurrency ATM looks and operates like a traditional ATM you would use at your bank or credit union. Scammers often direct their victims to utilize cryptocurrency ATMs because it a method of payment most people are not familiar with. They also like the anonymity these machines offer them. If someone is sending you to one of the ATMs, it is probably a scam.

Let’s Talk About Scams is broadcast live Tuesdays at 8AM PT on K4HD Radio - Hollywood Talk Radio (www.k4hd.com) part of Talk 4 Radio (www.talk4radio.com) on the Talk 4 Media Network (www.talk4media.com). Let’s Talk About Scams TV Show is viewed on Talk 4 TV (www.talk4tv.com).

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Disclaimer: The information contained in this podcast is intended for informational purposes only and is not a substitute for individual professional / legal advice. The podcast information was carefully compiled from vetted sources and references; however, R.O.S.E. Resources / Outreach to Safeguard the Elderly cannot guarantee that you will not fall victim to a scam.

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WEBVTT

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This program is designed to provide general information with regards

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to the subject matters covered. This information is given with

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the understanding that neither the hosts, guests, sponsors, or station

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are engaged in rendering any specific and personal medical, financial, legal, counseling,

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professional service, or any advice. You should seek the services

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of competent professionals before applying or trying any suggested ideas.

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The information contained in this podcast is intended for informational

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purposes only and is not a substitute for individual professional

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legal advice. The podcast information was carefully compiled from vetted

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sources and references. However, Rose Resources outreach to safeguard the

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elderly cannot guarantee that you will not fall victim to

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a scam. Let's talk about scams. It's the must listen

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show for anyone who wants to protect themselves and their

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loved ones from scams. Every Tuesday am Pacific time on

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K four HD Radio, Joyce Petrowski, founder of Rose, and

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her guests will provide valuable insights and practical tips on

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how to recognize and protect yourself from scams. And now

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here is your host, Joyce Petrowski.

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Good morning, everybody, my name is Brian Watson, community Outreach

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specialist for Rose Resources Outreach to Safeguard the elderly, and

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I am filling in for Joyce Petrowski today. I was

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here last week as well. I really enjoy the opportunity.

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Joyce will be back next week. Today this topic is

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beware of cryptocurrency ATMs, and we'll explain exactly what that

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is and why you should beware. So I we're based Rose,

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We've been around for four years and we're based in Arizona.

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I have the privilege of writing a monthly column for

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a newspaper called The Green Valley News, which is based

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in Green Valley, Arizona. It's a town south of Tucson, Arizona.

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The average age in Green Valley is over seventy years old.

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It's definitely a reiment community. And this monthly column I

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cover all kinds of different scam topics. And last year

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I wrote a column called five Signs that You're being

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scammed and I just came up with the five biggest

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things that are just obvious clues you're being scammed. And

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at number four, I put if you're ever putting money

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into a bitcoin ATM, you're probably doing something wrong. You're

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probably being scammed. Well, if I were to write that

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article now, I would probably move move it up to

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like number one or number two. The criminals are sending

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people to bitcoin ATMs. So what is a bitcoin ATM.

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It operates and looks like a traditional ATM that you

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might have at your bank or your credit union. They're

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completely illegal, but everything that I see and hear tells

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me they're just an easy way for criminals to take

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advantage of people. I mean, and I'm jaded because I

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hear all these horror stories of people getting fooled and

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sent to these bitcoin ATMs and told, you know, to

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put money in, and then they end up losing them.

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After today's episode, you'll understand why I'm not a fan

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of these particular machines. So first things first, I'm not

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signaling out Bitcoin. It's just a numbers thing. Bitcoin. There's

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thousands of cryptocurrencies. Bitcoin has the largest market share. It's

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estimated from binance dot com it's sixty percent. So the

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majority of the crypto currency atm are called bitcoin ATMs.

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But from this point on in today's show, we're just

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going to call them cryptocurrency ATMs, so it'll cover all

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the different ones. So why do scammers like to utilize

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cryptocurrency ATMs. Well, first of all, scammers like to use

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methods of payment that people are not super comfortable and

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super familiar with. You know, the days of scammers just

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getting cash or getting you to write a check are

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long gone. They like to use pre paid gift cards,

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they like to use venmo Zell, PayPal, they like to

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use and they like to use cryptocurrency ATMs. So how

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does it work. So when the scammer wants to get

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money from you, and later on I'm going to talk

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about the various scams, they're going to provide you a

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QR code. So that's that little square with the black

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and white images on it when we are going through COVID,

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and all the menus at restaurants were QR codes that

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you could scan on your phone. So they will text

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you a little little QR code on your phone and

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they'll tell you where the nearest cryptocurrency ATM is. They're

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very nice about that. They'll even give you directions. And

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you walk into this convenience store, liquor store, smoke shop,

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and you'll see this machine in the corner and you

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walk up to it and you scan that QR code

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and you start putting in cash. It's become such a

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big problem. We're gonna have a couple slides to show today,

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and the first slide that I'd like to show is

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from the Federal Trade Commission, and they put out this infographic.

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Did someone send you to a bitcoin ETM? It's a scam.

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And you know what, we're all of us at Rose.

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We're big fans of the Federal Trade Commission because they

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have a lot of resources and creative people and they

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put out a lot of free materials that we use

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and we're very appreciative of that. But they put this

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out about the bitcoin ATM. So I use this thing

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all the time. So if you or someone you know

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is being directed to put cash into these ATMs, you

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are being scammed. There's maybe a small little percentage, you know,

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if you wanted to invest in cryptocurrency ATM. My advice

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is just do it from home, from your home computer.

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Have someone who's financially savvy help you out. There's nothing

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illegal about cryptocurrency ATMs. My whole point today is criminals

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like to utilize them. And then the next slide that

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I want to show you is very sad, but it's

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a picture that's gone all over the internet, and it's

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a man at one of these cryptocurrency ATMs, and that's

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what it looks like in this case. This one's called

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Bitcoin Depot, and he's on the phone on his knees

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with his hand over his forehead. You know, we don't

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know exactly what's going on, but a lot of people

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have surmised that he's talking to a criminal and losing

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his life savings. And if that's really what happened in

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this photo, it's heartbreaking because I know this story does

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not end well, but I've heard one story after another

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of people being directed to these cryptocurrency ATMs and told

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defeating cash to pay sort of sort of fine or

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something like that. All right, I'm good with the slideshow.

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Thank you very much. That was very helpful. So we

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don't want anyone to have their life savings stolen. Once

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you put your money into one of those cryptypto ATMs,

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it's very hard to get back. Is it possible? Yes,

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but you have to move very quick, and you have

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to have someone from a law enforcement agency who really

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knows what they're doing and has the time. So the

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best bet is we want to prevent people from being

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sent to this cryptocurrency ATM. If if someone contacts you

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and tells you to pay a fee, call the police

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right away, call a friend, you got to you got

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to stop. And if you know somebody that's being directed

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to a cryptocurrency ATM, you need to intervene. So you know,

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when we when we do fraud prevention and when we

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do our podcasts and we do our radio show, and

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when we do TV and we do articles, a lot

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of times we talk about dreary stuff. We talk about

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bad news. We talk about people getting scammed. I love

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good news when they're is good news, and I have

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some good news here from the state of Arizona. In September,

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a new law was passed here in our state. It's

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called the Cryptocurrency KIOSK License Fraud Prevention Law, and it

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offers several protections for consumers. The first of all is

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daily transactions for new customers are limited to two thousand dollars,

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So that's a good thing. So if someone is scammed,

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we're going to limit the losses. And then new warning

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signs have to be placed on the screens so when

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someone's logging in, they're kind of like little roadblocks. Did

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someone tell you you owe a find someone called you

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up to tell you this, Why are you? And you know,

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there's all these different questions and it's meant to just

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stop you that whole Take a break and maybe it'll

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stop somebody. And then all transactions now require that the

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consumer be given a receipt for the digital wallet where

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that cryptocurrency went. That's very important because if you were

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to report this to law enforcement, it gives them a

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head start on where to see where the money went.

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And the biggest change with this new law is ATM

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and Kiosk operators are required to issue full refunds, including

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all these fees, to new customers who report that they're

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a victim of a fraud. You got to report it

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to law enforcement within thirty days, and that's good. I

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wish it was longer, but I'll take thirty days over

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zero anytime. And then so those of us that do

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fraud prevention, like those of us it Rose Joyce and

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I and everyone on our board and advisory committee, we

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applaud this. It's definitely a step in the right direction,

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but we still need to continue warning the public. Here

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in Arizona, there are six hundred of these cryptocurrency ATMs.

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You know, a lot of times there's one with and

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walking distance for most people who live in the city

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or live in a town, so scammers have plenty of options.

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So more good news, good news and kind of sad

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at the same time. Maybe it's bittersweet, how about that.

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So last month I was up in northern Arizona and

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I was doing a fraud prevention presentation and it was

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at a local mall. And when I walked into the mall,

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I see this cryptocurrency atm right in plain view. You

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can't miss it, bright colors. It's a very prominent position.

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And this is what I do part time for a living.

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So I had to go check it out because these

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things interest me. I want to know more about these

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cryptocurrency ATMs. So as I was curiously checking out checking

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it out, a gentleman walked up to me and said,

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you're not falling for a scam, are you? And I said, oh, no, no, no,

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I could never fall for a scam. It's not allowed.

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I'm a scam prevention guy. But jokingly I said that,

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But I said, you know, I'm here to do a

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fraud prevention presentation and I talk about cryptocurrency ATMs, and

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you have one here to ride at the mall, and

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this gentleman who works at the mall says, yep, I

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see people coming up to this thing all the time

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and they're in a panic and they look stressed out,

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and this gentleman intervenes, he'll stop these people. So I

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was like, Wow, what a great guy this is. You know,

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we need more people like him. It's almost like we

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need to hire people to man these cryptocurrency ATMs. Maybe

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the new law in twenty twenty six we can get

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will we'll mandate that they have to have someone standing there.

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But I was so proud of this man, and he

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actually was willing to do something because you know, it

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could backfire on him. He could get a bad reaction

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from somebody's especially if someone was doing just investing or

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something like that. But I was very impressed by this guy.

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So let's talk about the specific scams. You know, pretty

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much any scam can utilize a cryptocurrency ATM to get

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the money from the victim to the scammer. So I'm

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going to highlight four of them today that I think

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are kind of like the most prominent the jury duty scam.

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Someone will call from a local sheriff's department, sheriff's office,

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police department and introduce themselves. They sound very official, and

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they'll say you failed to show up for jury duty

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and there's a warrant out fair arrest, and they will

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get you all scared nervous, and they'll say, well, we

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can have the warrant quashed if you just pay the

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fine right now. And you go, okay, how much is it?

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And they give you a dollar amount and they tell

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you you need to pay via a cryptocurrency ATM. Red

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flag should be going off. The police are not going

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to make you do that. So what they do is

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they'll give you that QR code and they'll send you,

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give you the address of the local cryptocurrency ATM, and

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have you deposit the money. So that's the jury duty scam.

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Bank impersonation scam is the second one I want to

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highlight today. That's when you get a call from the

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security department at your bank and the caller ID may

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even have the name of your bank. They may know

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the name of your bank, or they may just be guessing,

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and they'll warn you that there's someone trying to steal

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your money, a hacker or someone on the inside, and

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they need you to move your money somewhere safe, and

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they'll direct you to withdraw all your cash from your

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bank account. They'll even give you a sometimes a fake

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story to tell the tellers so in case that inside

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person knows what's going on, I'm planning a wedding or

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buying a car, going on a vacation. And then they'll

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give you that cryptocurrency ATM address and have you deposit

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that cash into that cryptocurrency ATM to keep it safe.

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But it's not being kept safe. It's a complete scam.

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The third one tech support scam. You know what I've learned,

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The tech support scam is one hundred and seventeen times

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has more than one hundred and seventeen times more losses

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than ransomware scams. And ransomware scams get a lot of

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media coverage. But you know what the big scam now

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is this tech support. It's a multi part scam. It's

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very very complicated in terms of the different layers to it,

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but the basic gist of it is you get a

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call from a computer company that you may have a

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you know, a subscription with and they say you do

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a refund, and you think, okay, great, that's very nice

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of them to give me a fund, and they say,

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we don't. We don't issue checks. That's the old days.

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We don't give you a credit for your account. You

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need to request it. That's our company policy. They'll send

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you the little pop up on your screen to click yes,

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you just give what's called remote access. We've talked about

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that on other shows. And then you try to type

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in your refund, maybe it's twenty dollars, and they'll make

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it look like twenty thousand. They start yelling at you.

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They're behind the scenes moving money to make it actually

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look like you receive twenty thousand. And then, similar to

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the last scheme, they have you withdraw all your cash

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go deposit it into a cryptocurrency ATM. Sensing a pattern here,

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I hope everyone's sensing that it's these things are awful.

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And then the last of the four scams is the

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pig butchering scheme. I've covered it, I know Joyce has

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covered it. It's a crazy term. Not a big fan

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of the term, but it's basically a scheme where criminals

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convince people to invest in crypto currency and then I've

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met people that have lost their life savings. It's absolutely tragic.

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People think they're actually investing in bitcoin or another cryptocurrency

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and they're not. They never have control of it. So

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don't ever invest money with someone you don't know. That's

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the pig butchering. So if someone ever sends you to

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a cryptocurrency atm in a review, it's almost always a scam.

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Any legitimate company, financial institution, government agency, law enforcement agency

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will not demand this method of payment. So you just

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have to tell them no, say you'll call back, you

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want to interview, and you want to phone that friend,

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call a police department or a sheriff's department. If you

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have to trust me, they would absolutely make time for you.

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And remember please go to Rosadvocacy dot org. That's our website.

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We love to have people sign up for our free

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monthly email. Right on our homepage Roseadvocacy dot org the bottom,

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there's a place to sign up. All we ask for

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is your name in your email address, and we'll send

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you a monthly email. We also send out a little

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mini email which is the tidbit of information on Tuesday mornings.

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We call them our Tuesday Tips and here's the deal.

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Don't just keep this information for yourself. You spend a

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few minutes reading it, digesting what we talk about, forward

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it to someone else, and then have other people sign up.

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These scams are not going anywhere, and the only way

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that we can prevent them is by reducing the number

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of potential victims. We want people not to live in fear,

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but to have a healthy skepticism of every email, text message,

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phone call that they receive and be willing to hang

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up the phone own, delete the email, delete the text,

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and ask for help. Don't be afraid. We need to

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break this cycle of people being scammed by very sophisticated scammers.

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Well maybe not. Sometimes they're not that sophisticated, but they

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just they're very good at what they do. They're professionals

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and we're not. So that is beware of cryptocurrency ATMs.

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Joyce will be back next week. Thank you so much

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for listening, thank you for investing a little bit of

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your time into scam prevention. And if you did like

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today's show, please recommend it to someone you care about,

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someone you love, and we'd really appreciate it. See you

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all next week. Thank you very much, Bye bye.

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Well that's all the knowledge for this episode June in

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every Tuesday at eight am Pacific time on KFOREHD Radio

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at kthorhd dot com as Joyce explores a variety of knowledge.

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So you have the power to make scam to test

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your healthy habit and until then, feel free to reach

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out to Joyce and let's talk about scams.