Tasmania Police Warn of Cryptocurrency ATM Scam Targeting Romance and Investment Victims

Tasmania Police is warning residents about a growing scam targeting cryptocurrency ATM users. Over a three-month period this year, victims lost more than $1.5 million after depositing cash into ATMs across the state.

The investigation is part of a national crackdown on the use of cryptocurrency ATMs by scammers, who are increasingly exploiting the machines to target victims of romance and investment scams.

Detective Sergeant Paul Turner warned that a key warning sign of a scam is when someone you have only met online or over the phone asks you to deposit cash into a cryptocurrency ATM. He emphasized that this is often a tactic used by scammers involved in fake investment opportunities and online romance scams.

Victims are being manipulated, intimidated, and pressured into sending money to scammers after they encounter resistance from their financial institution when attempting to transfer funds.

The number of cryptocurrency ATMs in Tasmania has increased significantly over the past few years, growing from just one machine in 2021 to 28 statewide. The police advise anyone unsure about a transaction to seek advice from trusted friends, family members, or the police before proceeding.