Bitcoin ATMs: A payment portal for scammers
Scammers trick you into withdrawing cash from your bank and depositing it into a Bitcoin ATM, claiming it will protect your money or fix a fake problem. The cash then goes straight into the scammer's account.
You receive a call or message claiming suspicious activity on your account, or a pop-up warning appears on your computer impersonating a company like Microsoft or Apple. The scammer escalates the threat, saying your money is at risk or your information is linked to money laundering. They tell you to withdraw cash from your bank and deposit it into a Bitcoin ATM at a specific location to protect your funds. You scan a QR code they send you at the machine, and your cash goes to the scammer's wallet.
- Unexpected call, text, or pop-up claiming urgent account or security problem
- Caller claims to be from government agency like FTC or your bank
- They tell you to withdraw cash from your bank account
- They direct you to a specific Bitcoin ATM location
- They send you a QR code to scan at the machine
- They use extreme language about money laundering or drug smuggling
Do not withdraw cash in response to unexpected calls or messages. Hang up and call the company or agency directly using the number on their official website, not one the caller gave you. Never use a Bitcoin ATM, gift card, or wire transfer to protect or move money. Real agencies and businesses will never ask you to do this. Report the scam to the FTC at ReportFraud.ftc.gov.