Bitcoin Scams Surge in Pima County, Arizona

Pima County in Arizona has witnessed a surge in Bitcoin scams, primarily targeting the elderly. Reports from the Pima County Sheriff’s Department indicate that criminals are employing various cryptocurrency scams.

According to Financial Crimes Detective Michael Wilson, these scams have transitioned from occasional to daily occurrences. Many scammers operate from abroad, impersonating government officials to mislead residents. They typically contact elderly individuals claiming they have warrants for their arrest due to missed jury duty, suggesting immediate payment of a bond to avoid jail.

Bitcoin ATM Scams on the Rise

Wilson explained that these scammers often take time to convince their victims and may request payment in cryptocurrency. They instruct targets to withdraw large sums of cash and deposit them into Bitcoin ATMs located in convenience stores. These ATMs convert cash into digital assets, which then quickly transfer between accounts, making the money hard to trace.

He stressed that elderly individuals are often the primary targets due to their steady income and trusting nature.

Warning from PCSD about Bitcoin ATM Scams

Victims have reported substantial financial losses, with some losing thousands in a single transaction. Recovering funds is challenging, especially since the scammers operate internationally. While PCSD attempts to recover stolen funds upon report, many funds have already moved overseas, complicating recovery efforts.

To combat this, the PCSD is placing warning signs on Bitcoin ATMs to alert potential victims before they lose money. Wilson encourages anyone receiving suspicious calls or texts to contact 911 or reach out to the PCSD fraud unit.