Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Cryptocurrency»Montana state auditor warns of rise in cryptocurrency ATM scams
    Cryptocurrency

    Montana state auditor warns of rise in cryptocurrency ATM scams

    August 19, 20253 Mins Read


    Scams are costing Montana residents millions of dollars, according to state officials.

    One of the newer scams deals with cryptocurrency ATMs, which recently prompted the Billings Police Department to send out a warning, one echoed by Montana State Auditor James Brown.

    “They can get hard cash through cryptocurrency scams, and so this is a growing area of concern,” said Brown, a Republican, in an interview with MTN News.

    See the state auditor’s cryptocurrency ATM warning here:

    n State Auditor warns about cryptocurrency ATM scams

    Brown, who also has the role of commissioner of securities and insurance, says that cryptocurrency ATM money goes overseas, often to criminals in North Korea.

    His office has seen $600,000 worth of fraud with cryptocurrency ATM machines since 2023.

    “If you’re a first time using a Bitcoin ATM, please be aware that these payments are final,” Brown said. “Once you send Bitcoin to another person, you can not get your money back.”

    It’s becoming such a big problem that the Billings police posted a scam alert on Facebook warning about fake investment opportunities, impersonation of officials, and a demand for payments using Bitcoin.

    “We’ve seen, at least that I’m aware of two cases in the last couple weeks, with a significant amount of money, one was $35,000 and I believe one was $15,000,” said Lt. Samantha Puckett of the Billings Police Department.

    Brown is in Billings and eastern Montana this week to talk about other issues and scams, including using artificial intelligence to impersonate a relative’s voice and romance scams.

    “Romance scams, which is sort of the spin off of these cryptocurrency scams, it’s the same idea,” Brown said.“People will try to befriend particularly elderly people who are lonely and then steal their money, of course, try to gain their confidence.”

    In a CBS News story, 80-year-old Joseph Buentello was cruising through retirement when he received a call saying his son was in jail.

    The caller told him that if he wanted to get his son out of jail, he needed to send $5,000 through a Bitcoin ATM.

    Buentello said he was told the money is lost.

    “So they said there’s nothing we can do about it,” Buentello said. “That money’s already been distributed.”

    Police and the state auditor’s office cannot do anything about the crypto ATM losses.

    “I’ll probably have a conversation with the 2027 Montana Legislature. Give me the ability to regulate these ATMs,” Brown said.

    Meanwhile, police will issue warnings hoping to prevent people from losing their hard-earned dollars.

    “There are warnings and a lot of the employees, you know, because a lot of these victims are elderly,” so they actually try to stop them, have them read the warnings on some of these machines to try to keep them from depositing the funds,” Puckett said about those who work where cryptocurrency ATM’s are placed.

    More information on cryptocurrency, insurance, securities, and more is available on the state auditor’s website.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    DEAL Mining Creates Stable Passive Income Through AI Cloud Mining

    Cryptocurrency

    Bitcoin Wallets And Storage: The Ultimate Guide To Securing Your Cryptocurrency

    Cryptocurrency

    The Pi Hackathon 2025: What It Means for the Controversial Cryptocurrency

    Cryptocurrency

    Wyoming Is First State To Launch Its Own Digital Currency — Frontier Stable Token

    Cryptocurrency

    52-Year-Old Man Duped Of ₹54 Lakh In Cryptocurrency Investment Scam; Case Registered

    Cryptocurrency

    A new era of digital currency at major banks

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Fintech

    Banking on innovation: South Africa’s fintech revolution

    Precious Metal

    La Libre Antenne de Max du 20 mai

    Commodities

    Nadec enregistre une hausse de son bénéfice net et de son chiffre d’affaires pour l’exercice 24 -Le 24 février 2025 à 06:43

    Editors Picks

    5 Worst Small Cities For Retirement

    October 20, 2024

    Farmer infected with Lyme disease after tick bite sparks urgent warning

    July 16, 2025

    Rotterdam police uncover hundreds of cryptocurrency fraud cases

    July 23, 2024

    Truth Social | Le réseau de médias de Trump ouvre la voie au désengagement du président

    April 2, 2025
    What's Hot

    China’s clean energy investments reached $940bn in 2024

    February 19, 2025

    Dragon Gold Cup : 10 000 € le stand . Sport

    July 4, 2025

    Homeowner Saw A Teenager Trespassing On His Property, So He Decided to Confront Him About It With A Sarcastic Comment » TwistedSifter

    July 13, 2024
    Our Picks

    Institutional Adoption and Its Impact on Cryptocurrency Prices

    October 11, 2024

    Adam Silver meets with Real Madrid to discuss NBA’s Europe league venture

    July 31, 2025

    le nouveau Metal Gear de Kojima pourrait signer la fin d’une ère

    July 17, 2025
    Weekly Top

    Flight Mode Ban: NEFGAD faults NCAA, petitions NOTAP over Nigerian Airplanes Technology Status

    August 20, 2025

    How much should you allocate to your IRA?

    August 20, 2025

    Canadian fintech rides smaller wave after last year’s record high

    August 20, 2025
    Editor's Pick

    Stacey Solomon’s impressive property empire – and who really owns Pickle Cottage

    April 3, 2025

    New Cryptocurrency Releases, Listings, & Presales Today – Auralex AI, Arbion AI, Codec Flows

    May 24, 2025

    TCS, Infosys, HDFC Bank, HCL Tech among 5 key stocks to declare interim dividend in April 2025

    March 28, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.