Before you put money in a crypto ATM, know this scam warning

Before you put money in a crypto ATM, know this scam warning

One phone call and one trip to a crypto ATM can cost you thousands of dollars.

But recognizing the warning signs before you deposit that money can make all the difference.

Earlier this year, Charleta Ungeheuer shared how she fell victim to one of these scams.

It started with a message on her iPad that appeared to be from Apple. She called the number provided, and that call eventually led her to withdraw more than $20,000 and drive 90 minutes to a crypto ATM.

"When I pulled up, I said, 'This may sound crazy, but I need $20,000 in cash,'" Ungeheuer said. "Then came the next step."

That next step proved costly.

The scammer stayed on the phone with Ungeheuer and told her to deposit the cash into a crypto machine.

A similar situation recently unfolded in Liberty, but this time, someone stepped in before the money was gone.

A man was on the phone and preparing to deposit thousands of dollars into a crypto ATM when a store employee intervened, stopped the transaction and called police.

That interruption was critical. Once cash is converted and sent to a scammer's crypto wallet, it cannot be recovered.

"Crypto scams are the scam that I would say that we should really be paying close attention to," said Shawn Kirkwood, director of outreach for AARP.

The lesson?

No legitimate business or government agency will call you and tell you to use crypto ATM to make a payment.

If that happens, don't deposit the money and hang up.

Taking that extra moment could save you thousands of dollars.