Loading...
Loading...
Scammers impersonate government agents or tech support and convince victims to withdraw large amounts of cash from banks, then deposit it into cryptocurrency ATMs using QR codes that send the money directly to the scammer's wallet. The scammer stays on the phone throughout to maintain control and prevent the victim from seeking help.
Annual Losses
$333M (FBI IC3 2025 report, up from $246.7M in 2024)
Avg Loss / Victim
$10,000 to $100,000+ per incident
Primary Vector
Phone calls directing victims to physical crypto ATMs at convenience stores and gas stations
Peak Season
Year-round, with targeting focus on older adults
This scam uses authority impersonation combined with artificial urgency to manipulate victims into moving their money through cryptocurrency ATMs. The scammer calls posing as a law enforcement officer, government agent, bank representative, or tech support specialist and claims the victim's identity has been stolen or their bank account is compromised. The scammer then instructs the victim to withdraw cash from their bank without alerting the teller, directing them to a nearby cryptocurrency ATM at a convenience store or gas station. Under the guise of moving money to a 'safe government locker,' the scammer sends a QR code that actually routes the cryptocurrency directly to the scammer's wallet. Critically, the scammer remains on the phone throughout the entire process to maintain psychological control, prevent the victim from hanging up to verify with their bank, and ensure the money is sent before the victim realizes what happened.
Hover or tap the highlighted text to see why each element is a red flag.
This is Officer Smith with the Federal Fraud DepartmentRed flag: No such federal agency exists by this name; scammers use official-sounding titles to build false credibility. Your bank account is in danger. Go to your bank and take out all your cash. Do not tell the bank teller anythingRed flag: Legitimate financial institutions never instruct you to hide transactions from bank employees; this isolation tactic prevents intervention.
Alert: Your bank account is frozen due to illegal activityRed flag: If a bank detects fraud, it freezes the account internally; it does not require you to manually move money to an external location. Go to the nearest Bitcoin ATM and use this QR code to move your money to a safe government lockerRed flag: No such government service exists at Bitcoin ATMs; this is a fake concept designed to lend legitimacy to a theft.
Anyone telling you to withdraw cash and deposit it into a cryptocurrency ATM
Legitimate government agencies, banks, and tech companies never use cryptocurrency ATMs. This is a hallmark of this scam.
Caller insisting you stay on the phone during the entire process without hanging up
Real institutions allow you to verify independently; scammers need constant phone contact to maintain psychological control and prevent you from seeking help or calling your bank directly.
Being sent a QR code to scan at an ATM with promises of 'safe storage' or 'government protection'
QR codes at ATMs route directly to cryptocurrency wallets controlled by the scammer. Cryptocurrency transactions are irreversible and untraceable.
Being told not to tell your bank teller why you're withdrawing money
This isolation tactic prevents bank employees from recognizing the scam and alerting you. Banks need to understand transaction purposes for security.
Caller claiming to be from a government agency but using a regular phone number, not an official line
You can verify legitimate agency calls by hanging up and calling official published numbers directly; scammers avoid this verification step.
Genuine government agencies (FBI, Secret Service, IRS) and legitimate banks NEVER use cryptocurrency ATMs, NEVER ask you to hide transactions from bank employees, and NEVER direct you to deposit money into cryptocurrency accounts. Real security alerts come through official channels: your bank's verified phone number (which you can look up independently), in-app banking notifications, or official letters sent by mail. If you're unsure, hang up and call your bank or the official agency directly using a number you look up yourself—never use a number the caller provides.
Cryptocurrency transactions are irreversible and untraceable, making them ideal for scammers. Bank transfers can be reversed, but once cryptocurrency is sent to a wallet, there is no way to recover it or identify the recipient. This is why scammers specifically direct victims to crypto ATMs.
Scammers can obtain this information through data breaches, leaked databases, or social media. Having personal details does not make a caller legitimate. Always verify independently by calling official phone numbers yourself.
Unlike bank transfers, cryptocurrency transactions are designed to be irreversible and largely untraceable. Once you send cryptocurrency to a wallet address, it is extremely difficult or impossible to recover, which is why this scam is so effective and damaging.
Paste it in and get an instant analysis — free, private, no account needed.
Analyze a Message