FBI: Scammers Are Using Crypto ATMs To Defraud Victims

• • The FBI has noted that scammers are increasingly using crypto ATMs to deceive victims.
  • Law enforcement agencies across the U.S. have warned about pig butchering.

The Federal Bureau of Investigation (FBI) has warned that crypto ATMs are becoming a popular method for scammers to receive money from victims.

The FBI Miami Field Office issued a public warning about “pig butchering scams,” in which scammers pose as a friend or a potential romantic partner to swindle money from victims. These scammers deceive their victims by winning their trust and then gradually introducing investment discussions into the relationship.

Once the scammer has gained the victim’s trust, they will often direct the victim to send money to a crypto ATM. The FBI says that victims are “coached through an investment process” and “encouraged to make continuous deposits by the fraudsters.” When victims try to stop sending out cash, they are told they need to pay taxes or additional fees.

The FBI has also warned that scammers are using other methods to receive money from victims, such as wire transfers and prepaid cards.

The FBI says that victims of these scams have no chance of getting their funds back.

The FBI has advised people to be wary of any investment opportunity that seems too good to be true. They also recommend verifying any investment opportunity before investing any money.