The Better Business Bureau (BBB) is aware of scams involving cryptocurrency vending machines.
That was the statement made by Wisconsin BBB Senior Director of Investigations Lisa Schiller.
She explained that the group has been aware of Bitcoin ATMs and how they are found in common places like gas stations, but the tide is starting to change as groups are forming to warn people about being scammed.
“I know it started with flyers and notices near the machines warning people before they started feeding their money in,” Schiller explained. “As far as I know, I think some of them have been removed. Again, there are groups working on that.”
In Manitowoc, the city passed an ordinance requiring warning signs on Bitcoin ATMs.
Schiller says there has also been action at the state level to try to curb the issues with them.
Fraud can be reported to the BBB Scam Tracker or the Wisconsin Department of Financial Institutions. Manitowoc
Police Chief Nick Remier previously explained that a victim of a scam will have thousands of dollars converted into Bitcoin under threat from a scammer.
He reminded residents that no police department or sheriff’s office would take payment through cryptocurrency.
