The City of Manitowoc is doing more to protect residents from Bitcoin Scams.
The Common Council on Monday (April 21st) unanimously approved an ordinance requiring a written warning on cryptocurrency machines in the city.
Manitowoc Police would issue a fine for businesses who don’t have one.
Police Chief Nick Reimer reiterated that residents have fallen victim to the scam losing thousands of dollars at times.
Sometimes thieves will pose as emergency agencies over the phone.
“A lot of times people (scammers) will say it’s the police department and your grandson or granddaughter is in jail, and you need to put $3,000 in Bitcoin into this machine and send it to this area,” he noted. “No police department or sheriff’s office would ever take payment through cryptocurrency.”
Reimer says passing the ordinance was very important.
He also reminds residents that once the money is transferred, there isn’t much police can do to get it back.
The plan for putting the signs out is still in the early stages.
“We have to come up with the signs and what they’ll say,” he explained. “And then, find out where all the Bitcoin machines are, of course. And get in touch with the people that are responsible for them and that they comply with the ordinance.”
Manitowoc Police want to continue to get the word out about the scams affecting residents saying that if you’ve never used cryptocurrency, it’s probably a scam.
The ordinance was drafted with help by City Attorney Eric Nycz, since the bitcoin ATMs are regulated under federal law.
According to FBI statistics from 2025, over $5 billion was lost to cryptocurrency scams in the United States with Wisconsin losing about $35 million.
