U.S. officials thwart cryptocurrency theft at a Bitcoin ATM

crypthub

about 15 hours ago

Scam Overview

Louisiana police recovered $200,000 from a Bitcoin‑ATM scheme that targeted seniors. Scammers pretended bank accounts were hacked and threatened arrest over alleged pornography charges unless victims paid with cash at Bitcoin ATMs. Four elderly people were contacted, and the operation was halted after the new state law took effect.

Victim Impact

One Capital‑area senior ignored family warnings and followed the scammers’ instructions, depositing cash before contacting AARP Louisiana for help. The victim later reported the call, confirming that criminals use the machines’ convenience to move stolen funds quickly. AARP’s Alfred Mason stressed that seniors remain a favored target for such fraud.

New Louisiana Law

The recently enacted statute forces Bitcoin ATM operators to post clear signage stating no government will request cash deposits. Machines now display warnings when users enter deposit amounts, flagging QR codes or wallet IDs as potential scams. Limits of $3,000 per day and a 72‑hour transaction hold further protect consumers.

Protective Measures

Authorities advise seniors to verify any payment request with local police before using a Bitcoin ATM. The FBI reported Bitcoin‑ATM fraud reached $333 million in 2025, largely driven by impersonation of banks or companies. Staying skeptical and checking official warnings can help prevent future losses.