Crypto ATMs: How Scammers Use Them to Trick People
You may have seen new machines in convenience stores or gas stations labeled “Crypto ATM” or “Bitcoin ATM.” They work a lot like regular ATMs — except instead of withdrawing or depositing cash into your bank account, you’re buying cryptocurrency.
While these machines are legitimate for people who understand cryptocurrency, scammers have found a way to misuse them to steal from unsuspecting victims.
How the scam works:
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- The Hook: You get a call, text, or email saying you owe money — maybe for a late utility bill, a government fine, or bail for a family member in trouble.
- The Urgency: They tell you it’s urgent and you must pay immediately to avoid arrest, losing your home, or other severe consequences.
- The Payment Demand: They direct you to a nearby crypto ATM and give you a “wallet address” to send money to.
- The Loss: Once the cryptocurrency is sent, it’s nearly impossible to get it back — and the scammer disappears.
Why scammers use crypto ATMs:
Fast – Funds transfer within minutes.
Hard to trace – Cryptocurrency transactions are difficult to reverse.
Confusing – If you’re unfamiliar with crypto, it’s easy to be misled.
How to protect yourself:
No government agency, utility company, or legitimate business will ever ask for payment via a crypto ATM.
If someone pressures you to pay right now and only in cryptocurrency — it’s a scam.
Hang up the phone or ignore the message, then call the company or agency directly using a number you trust.
If you think you’ve been targeted, contact Your Legacy Federal Credit Union and local law enforcement immediately.
At Your Legacy FCU, we want you to be informed and confident in recognizing red flags. Share this information with friends and family — especially those who might be less familiar with technology — so they don’t become the next target.
