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The state claims Iowans have lost more than $20 million in scams facilitated through the company's ATMs and accused Bitcoin Depot and competitor CoinFlip of failing to CLIVE, IOWA – An Iowa woman was recently targeted by a sophisticated scam that involved the use of a Bitcoin ATM and a trickster posing as law enforcement with an A woman from the city of Clive, Polk County, Iowa, fell victim to a scam involving the use of a Bitcoin ATM, according to a press release by local police that was The FBI issued a public service announcement alerting the public about the increase of these scams and described the various tactics being used to steal money with a In a recent case, an Iowa woman was tricked into sending over $10,000 through a Bitcoin ATM to a scammer she believed was her soulmate, only to discover she had The Clive Police Department says because the money was sent overseas, recovering it is very unlikely.Subscribe to Local 5 on YouTube: In scams connected to Bitcoin Depot and CoinFlip crypto ATMs, Iowa Attorney General Brenna Bird says Iowans have been scammed out of over $20 million in To help her supposed friend, the woman maxed out her credit card and sent more than $10,000 to the scammer through a Bitcoin ATM. She continued sending money

Bitcoin ATM Scam Leaves Iowa Woman Broke: Scammers Impersonate Police

CLIVE, IOWA – An Iowa woman from the city of Clive, Polk County, Iowa, fell victim to a sophisticated Bitcoin ATM scam, leaving her financially devastated. The Clive Police Department issued a press release detailing the incident, highlighting a growing trend of scammers impersonating law enforcement to steal money.

This heartbreaking story echoes a wider problem across Iowa. The FBI issued a public service announcement alerting the public about the increase of these scams and described the various tactics being used to steal money. In scams connected to Bitcoin Depot and CoinFlip crypto ATMs, Iowa Attorney General Brenna Bird says Iowans have been scammed out of over $20 million in total. The state claims Iowans have lost more than $20 million in scams facilitated through the company's ATMs and accused Bitcoin Depot and competitor CoinFlip of failing to adequately protect their customers.

How the Bitcoin ATM Scam Works

These scams often involve elaborate ruses, preying on victims' emotions and trust. In a recent case, an Iowa woman was tricked into sending over $10,000 through a Bitcoin ATM to a scammer she believed was her soulmate, only to discover she had been defrauded. To help her supposed friend, the woman maxed out her credit card and sent more than $10,000 to the scammer through a Bitcoin ATM. She continued sending money, believing she was helping someone in need.

Scammers often instruct their victims to withdraw cash and deposit it into a Bitcoin ATM. They may pose as law enforcement officers, government officials, or even loved ones in distress, creating a sense of urgency and fear to pressure victims into complying.

Recovering Lost Funds Is Difficult

The Clive Police Department says because the money was sent overseas, recovering it is very unlikely. This underscores the importance of prevention and vigilance.

Protect Yourself from Bitcoin ATM Scams

Here are some tips to protect yourself from becoming a victim of Bitcoin ATM scams:

  • Be wary of unsolicited contact: Never trust someone you've only met online who asks you for money, especially through Bitcoin ATMs.
  • Verify identities: If someone claiming to be from law enforcement or a government agency contacts you, independently verify their identity through official channels.
  • Resist pressure: Scammers often create a sense of urgency to prevent you from thinking clearly. Take your time and don't be rushed.
  • Never send money to strangers: Treat any request for money from someone you don't know personally with extreme caution.
  • Educate yourself: Stay informed about the latest scam tactics and share this information with your friends and family.

Subscribe to Local 5 on YouTube: for more information on scams and how to protect yourself.

If you believe you have been a victim of a Bitcoin ATM scam, report it immediately to your local law enforcement agency and the FBI's Internet Crime Complaint Center (IC3).

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