BRAINTREE — Bitcoin ATM scams have resurfaced across the South Shore, with victims losing tens of thousands of dollars in recent incidents, according to local police.
The Braintree Police Department reported that a victim was scammed out of $18,000 today, while Hingham Police documented a similar case resulting in a $30,000 loss.
Authorities say scammers are using various convincing tactics to target victims, particularly the elderly.
Common schemes include fake computer virus alerts, romance scams, false claims about family members in jail, and fraudulent jury duty warrants.
Police warn that anyone instructed to withdraw cash and deposit it at a Bitcoin ATM is “1,000% being scammed.”
Once deposited, the money is converted to cryptocurrency and transferred to Bitcoin wallets that are nearly impossible to track, making recovery extremely difficult.
The Braintree Police Department has placed warning placards at Bitcoin ATMs throughout the area in an effort to prevent further incidents.
Authorities are urging residents to share this information with older family members and friends who may not be active on social media and could be vulnerable to such scams.
