Protect Yourself: A Conversation About Cryptocurrency Scams

By Tyler Amundson, Director of Mission and Development

Imagine receiving a call that says you must pay a fine or fix a problem with your account immediately. The caller sounds official and tells you the fastest way to solve the problem is to deposit cash into a cryptocurrency ATM and send the funds right away. Situations like this are becoming a common tactic used by scammers, and these machines—now appearing in grocery stores, convenience stores, and smoke shops throughout our community—are often part of the scheme.

Cryptocurrency is a form of digital money that exists online rather than as physical cash. Some common types include Bitcoin, Ethereum, Tether, and Litecoin. While cryptocurrency itself is a legitimate technology, many people are unfamiliar with how it works. Scammers take advantage of that gap in knowledge. In many cases, they stay on the phone with a victim the entire time, coaching them step by step on how to use a cryptocurrency ATM and send the money. Once the money is sent, it is extremely difficult to trace or recover.

Most scams follow a similar pattern. Someone receives a call, email, or text from a person claiming to represent a government agency, a utility company, law enforcement, or even a financial institution. The caller may say there is a problem with your account, a fine that must be paid, or that a loved one needs help immediately. Then, they create urgency and instruct the person to go to a cryptocurrency ATM and send money.

When something like this happens, the most important thing to remember is to slow down. Scammers depend on urgency and pressure to keep people from thinking clearly. In reality, very few legitimate situations require immediate payment, and government agencies and legitimate businesses do not request payment through cryptocurrency.

If a request feels suspicious, take a step back. Nothing is ever so urgent that you cannot pause and check it first. Talk with someone you trust—a family member, a friend, a neighbor, someone at your bank, or call our Resource Center at 406-259-5212. A quick conversation can often bring clarity and prevent a costly mistake.

Think of it as a simple rule: pause, talk, and verify before taking action.

If you encounter a suspicious request or believe someone may be attempting to scam you, you can report it to the FBI’s Internet Crime Complaint Center at www.ic3.gov. Reporting scams helps investigators track patterns and protect others in the community.  Additionally, if you have been a victim, report it to your local police department. Reporting incidents is often the first step in helping stop these scams from continuing in our community.

By staying aware and looking out for one another, we can help make sure these scams do not succeed in our community.

• No legitimate agency will demand payment in cryptocurrency

• Scammers use urgency and may guide you to a cryptocurrency ATM

• Pause, verify with someone you trust, and report suspicious activity to www.ic3.gov or local police

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