Canadian Police Shed Light on New Bitcoin ATM Scam

Libra Coin News
Thu, 08/29/2019 - 17:09
Alex Dovbnya
At first glance, this Bitcoin ATM scam might seem incredibly stupid, but it’s very easy to get on the hook 
Cover image via www.freepik.com

Canadian police are once again ringing the alarm about Bitcoin ATM scams. This time, Winnipeg authorities identified a fraudulent scheme that tricks gullible victims into sending Bitcoin to a different address.

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Manitoba Post reports that there are posters plastered on Bitcoin cash machines, which warn users about an ongoing software upgrade. Hence, they are supposed to scan a QR code on the poster instead of their own. As ridiculous as it sounds, the instruction sounds legitimate enough for uninitiated newbies to fall into the trap.

Image by manitobapost.com

Moreover, it is not a coincidence that they decided to embolden the part about lower fees if to consider that ATMs tend to charge considerably more compared to crypto exchanges.

It was confirmed that these posters were not associated with local ATM operators.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.