The Yavapai County Sheriff’s Office has begun a program of posting signs on cryptocurrency machines warning buyers that they may be victims of a scam.
Attorney General Kris Mayes issued a letter on Nov. 13 asking business owners in Yavapai County to support YCSO in its effort to stop the loss of thousands of dollars in scammer-initiated cryptocurrency transactions at Coinstar machines and Bitcoin ATMs. Mayes said Arizonans have collectively lost millions of dollars in the past year to various scams that utilize the cryptocurrency machines for payment, most often preying on vulnerable older adults.
“It is truly heartbreaking to hear the stories of individuals who have lost part or all of their life savings to fraudsters,” Mayes said.
The YCSO Fraud Investigations Unit has received reports in recent weeks of multiple victims who have sent thousands of dollars in cryptocurrencies for payment of phony claims including old fines, arrest warrants, relatives in some kind of legal or medical trouble, past due taxes, fixing supposedly hacked financial accounts or requests by an online romantic interest who needed cash for some type of emergency or investment opportunity.
So far local business owners have been very receptive to partnering with YCSO in this initiative, which hopes to alert potential victims at the point of purchase, before they send cryptocurrency that cannot be recovered. YCSO fraud investigator Ron Norfleet, who conducts seminars countywide on how to protect yourself from becoming a scam victim, says criminals will also urge payment by wire transfer or gift cards, funds that also cannot be recovered. His advice: Don’t answer the call, and never click on links in e-mail or text messages.
If you have been contacted by a scammer, call YCSO at (928) 771-3299
