FBI issues a warning regarding crypto scams via ATMs and QR codes

The Federal Bureau of Investigation or the FBI is looking into crypto-related scams and has issued a warning to all the investors. According to the announcement by the firm, criminals are increasingly using ATMs and QR codes to scam different people into handing over their money. 

According to the Public Service Announcement on the Internet Crime Complaint Center (IC3) website, the scammers pose themselves as members of some government agency asking for sensitive information. Further, these scammers also come up with a fake lottery scheme requiring users to pay a fee before claiming the prize. 

As reported by TheCoinRise, the FBI recently gained secure info using cryptocurrencies. For the authority, it seems that crypto have their pros and cons.

FBI asks people to be cautious in using crypto ATMs

The FBI asked people to be cautious when using a crypto ATM that offers anonymity and requires only a phone number or email. The scammers often ask people to go and buy crypto from an ATM and use the QR code from their wallet to scam the people they have trapped. After this, the crypto is transferred to the scammer’s crypto wallet. 

According to the FBI, the scammers quickly send their funds into an overseas account as soon as possible, running away with the hard-earned money of many users. Recovering the funds becomes difficult in such cases because traditional bank transfers can remain pending for one to two days before settlement. 

Being cautious near crypto ATMs and using only trusted ones is an absolute necessity if one doesn’t want to get scammed. The FBI gave some tips for people to follow in order to stay out of trouble. 

“Do not send payment to someone you have only spoken to online, even if you believe you have established a relationship with the individual,” said the announcement.

Furthermore, the Bureau also asked users to refrain from accepting calls from unverified sources claiming to be someone they are not.

The surge in the popularity of cryptocurrencies has also raised the number of scams prevalent in the industry that need to be dealt with.