Attorney General Jeff Jackson and Secretary of State Elaine Marshall have launched a statewide initiative in North Carolina to combat bitcoin and cryptocurrency ATM scams, which can result in victims losing over $100,000.
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The initiative, in partnership with AARP, the Wilmington Police Department, and United Way NC/NC 211, aims to raise awareness and educate the public on recognizing and preventing these scams. Cryptocurrency-related financial fraud is a growing concern, with annual losses approaching $6 billion.
“We’re hearing devastating reports of people losing their life savings through a crypto ATM scam,” said Jackson. “That’s why we’re working with partners across the state to help people recognize the signs of these scams. We want to help people protect their money from scammers.”
Marshall expressed pride in joining forces with partner agencies to raise public awareness about cryptocurrency ATM scams.
AARP volunteer David Kirkman emphasized the importance of education and awareness, stating, “AARP knows that vigilance against scammers is our number one defense. By being informed about the latest scams, and knowing what red flags to look out for including the demands for bitcoin payments, we all have the power to better protect ourselves and our families.”
“At 211, we’re seeing firsthand how scammers are evolving—and how quickly they’re targeting vulnerable North Carolinians through tactics like cryptocurrency ATM fraud,” said United Way NC and NC 211 President and CEO Brittany Pruitt Fletcher.
How it works
Cryptocurrency ATMs, commonly found near convenience stores, gas stations, or smoke shops, are increasingly being used by scammers to defraud individuals.
Scammers often instruct their targets to use these ATMs to convert cash or bank funds into cryptocurrency, which is then transferred to the scammer’s account.
Once the cryptocurrency is transferred, it is nearly impossible to recover, as scammers can quickly exchange it back into cash. This method of fraud is particularly insidious because it often involves forming emotional or romantic relationships with victims, who are frequently older and less likely to report the crime.
The Secretary of State, AARP, and United Way NC/NC 211 are collaborating with law enforcement to spread awareness about cryptocurrency ATM scams.
What to look out for:
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An older adult is using the crypto ATM while someone on the phone is talking to them.
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An older adult tells you they need to withdraw cash immediately from their bank account to send to someone who called them.
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Someone says a government official (ex. law enforcement) told them to pay a fine with crypto. Remind them that the government NEVER accepts crypto as payment.
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Anyone who is acting stressed, scared, or emotional may be receiving threats.
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