Arizona Attorney General Kris Mayes is warning residents about cryptocurrency ATM scams that have been targeting residents around the state.
Crypto ATM scammers urge victims to move their assets and savings to cryptocurrencies such as bitcoin to “keep it safe.” The money is then transferred to the scammer, leaving victims at a financial loss.
AG spokesperson Richie Taylor said some victims transferred their entire life savings.
“The scammer will tell someone that they're either under investigation or they need to safeguard their money," Taylor said.
"They'll pretend to be a government agency, or they'll pretend to be law enforcement, and they'll try to make the individual fearful enough to go and put physical money."
