The Yavapai County Sheriff’s Office has taken a significant step by initiating a program of posting signs on cryptocurrency machines. These signs serve as a warning to buyers, alerting them to the potential of being victims of a scam. Attorney General Kris Mayes played a crucial role by issuing a letter on Nov. 13, asking business owners in Yavapai County to support the YCSO in its efforts to prevent the loss of thousands of dollars in scammer-initiated cryptocurrency transactions at Coinstar machines and Bitcoin ATMs. It is disheartening to learn that Arizonans have collectively lost millions of dollars in the past year to various scams that exploit cryptocurrency machines for payment, often targeting vulnerable older adults.

Protecting Yourself from Cryptocurrency Scams

The YCSO Fraud Investigations Unit has received reports in recent weeks of multiple victims who have sent thousands of dollars in cryptocurrencies for payment of phony claims. These claims range from old fines and arrest warrants to relatives in legal or medical trouble, past due taxes, fixing supposedly hacked financial accounts, or requests by online romantic interests needing cash for emergencies or investment opportunities. It is essential to be vigilant and not fall victim to such scams.Local business owners have shown great receptivity to partnering with the YCSO in this initiative. By doing so, they hope to alert potential victims at the point of purchase, before they send cryptocurrency that cannot be recovered. YCSO fraud investigator Ron Norfleet conducts seminars countywide on how to protect oneself from becoming a scam victim. He advises that criminals will also urge payment by wire transfer or gift cards, which are also funds that cannot be recovered. His key advice is to not answer calls and never click on links in email or text messages.If you have been contacted by a scammer, it is important to take immediate action. Call YCSO at (928) 771-3299. By being aware and taking preventive measures, we can all work together to combat cryptocurrency scams and protect our hard-earned money.