San Diego Targets Cryptocurrency Scams Targeting Senior Citizens
San Diego is on track to become the first city in California to combat cryptocurrency scams targeting senior citizens. The city council's rules committee has unanimously endorsed a proposed law requiring warning signs at all 110 cryptocurrency ATMs operating in San Diego, with the goal of reducing these types of scams.
The new law aims to address the growing problem of cryptocurrency ATM scams, which often target seniors who are less digitally savvy and live alone. According to FBI statistics, $389 million was stolen in such scams nationwide during 2025, with two-thirds of this amount lost by seniors.
City officials believe that placing warning signs at cryptocurrency ATMs will help prevent these scams from occurring. The proposed law requires the signs to be displayed in multiple languages and includes warnings about sending money to individuals you haven't met in person or those claiming to be law enforcement.
The city council's effort is also supported by local non-profit organizations, such as Serving Seniors, which advocates for low-income seniors who are often vulnerable to financial scams. The group's director, Alana Martinson, stated that even a single financial loss can have devastating consequences for this demographic.