MANCHESTER, NH – Crypto ATM scams are one of the fastest growing financial scams in the country, and they are on the rise in Manchester.
In the span of a week Manchester Police have received four reports of these types of fraud cases, all occurring at local convenience stores.
In these incidents, the scammer usually contacts the victim by phone, email, text, or pop-up warning. They advise that the victims ID and financial accounts have been compromised and they are going to transfer them to a Federal Agent, Law Enforcement agency or their own bank. They are connected with imposters who convince them they need to withdraw their money and send it via Crypto ATM machines in the city. This is supposedly to protect their money and it will be sent back to them after they fix the problem with their account.
They instill fear by saying if the victim does not pay, they will be arrested. They stay on the phone with the victim and advise them not to speak to family or law enforcement. They direct the victim to a Crypto ATM and give them a QR code or Crypto wallet address to enter and explain how to use the machine. Once the money is deposited it converts to Crypto and goes to the scammer. Cryptocurrency transfers are fast and nearly impossible to trace or recover.
How to safeguard yourself
- Hang up on people or companies asking you to liquidate your finances and look up the entity you think you are speaking to and call them at a known/validated phone number.
- Government agencies and law enforcement will not initiate contact with you by phone and ask you to withdraw cash or send money via crypto atm, wire, gold, or gift cards.
- Legitimate organizations will never tell you not to speak to family or law enforcement.
- Educate and assist your family to understand this scam and help them monitor their finances.
Call Manchester police at 603-668-8711 if you feel you may have fallen victim to this type of fraud.