Local Police Take Action Against Bitcoin Scams
OSHKOSH, WI—In a proactive approach to crime prevention, law enforcement agencies throughout Winnebago County are implementing measures to help prevent cryptocurrency scams. They are placing warning signs next to Bitcoin ATMs to alert users of common scams that have been reported.
Kate Mann, Public Affairs and Crime Prevention Officer with the Oshkosh Police Department, revealed that in the past four years, residents have lost nearly half a million dollars to Bitcoin and cryptocurrency scams.
“Since 2021, we’ve had over 35 scams specifically involving Bitcoin ATMs, resulting in over $485,000 in losses,” Mann stated.
The signs are designed to encourage users to pause and think before making transactions. Mann emphasized the importance of this initiative:
“We wanted to look for a new, innovative way to get the information out to citizens. We’ve tried various methods, and this is just another opportunity to inform the public.”
The posters feature messages like “Stop! This could be a scam!” and include questions meant to provoke thought about the legitimacy of the transaction.
Understanding the Scams
Mann explained that scams involving Bitcoin take on various forms, often manipulating emotions to create a sense of urgency.
“Sometimes they claim emergencies, like a grandchild in trouble needing immediate payment, or they might say you missed jury duty and need to pay a fine,” she noted.
Scammers frequently use tactics that instill fear or urgency, urging victims to act quickly without verifying the situation. Mann advises residents:
“Always remember, just because it’s this person’s emergency doesn’t mean it’s yours. Slow down and verify what’s happening.”
The best strategy when faced with a suspicious call is to hang up and contact the relevant agency directly using known phone numbers. Mann urges:
“Before you put money into Bitcoin ATMs or buy gift cards, stop and verify the story. Once the money is gone, it’s very hard to recover.”
If you suspect you’ve been targeted by a Bitcoin or cryptocurrency scam, it’s crucial to reach out to your local police department for assistance.
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