Scams involving cash, bitcoin, and gold are directing couriers and providing instructions for ATM withdrawals.

 

No one—absolutely no one—should be so fearful that they find themselves stuffing tens of thousands of dollars into a box and waiting at home or in a parking lot for a stranger to pick up the cash to avoid an arrest or other serious consequences.

Likewise, no one—absolutely no one—should be compelled to follow instructions to feed cash into a bitcoin ATM at a nearby gas station or liquor store.

Yet, despite this, there has been a noticeable increase in such scams. The schemes themselves haven't changed much, but what's truly alarming is the audacity and boldness of the criminals involved. Some even instruct victims on the make and color of the vehicle that will come to collect the money, all to make the operation appear more legitimate.

These couriers dress the part, convincingly playing their role, and drive off with significant amounts of cash—real money—before victims realize they've been scammed. Tragically, people can lose their life savings, retirement funds, or drain their investment accounts entirely.

While the tactics of the scams may remain the same, according to Michigan's Northville Township Deputy Chief Matthew MacKenzie, many criminals are now demanding payment through bitcoin or cash, instead of the more traditional methods.

The scam often starts with a claim that your computer has been involved in some cybercrime or that you are under investigation for a supposed crime, possibly even with a warrant out for your arrest. The scammers might pose as representatives from the IRS, FTC, or other government agencies, urging you to withdraw your money from the bank and hand it over to protect your savings.

In one alarming case this summer, a woman in her 70s from Northville Township, Michigan, lost $300,000 to such a scam. The criminals managed to get cash, bitcoin, and even gold bars from her before they vanished.

Woodbury Police Detective Lynn Lawrence explains how thieves scam people using bitcoin ATMs, like this one located at a gas station in Woodbury.

The criminals are also increasingly using cryptocurrency ATMs and kiosks to steal money, often keeping the victim on the phone the entire time, instructing them not to discuss the situation with anyone. Victims are often directed to make multiple withdrawals from different banks to avoid suspicion before converting the cash into cryptocurrency at an ATM.

In some cases, victims are even instructed to go to a bitcoin kiosk at a gas station, as happened to a 73-year-old woman from Troy, Michigan. She lost nearly $5,000 after being tricked into withdrawing cash and converting it into bitcoin, which the scammers then transferred to accounts that could be anywhere in the world, making it extremely difficult for law enforcement to track them down.