Crypto Startup Ruled Not Responsible For $62,500 Bitcoin ATM Scam

Canadian Woman Falls Victim To Bitcoin ATM Sting

Although many seasoned cryptocurrency investors understand the scams that plague this nascent industry, there are some no-coiners — unenlightened folk if you will — that still fall victim to life-altering Bitcoin scams and schemes that drain their bank account. Even while awareness regarding Bitcoin-centric swindles has risen drastically, per reports from the Canadian Broadcasting Company (CBC), not everyone has been kept in the loop and out of harm’s way.

Earlier this year, a woman residing in Charlottetown, Canada, was rung up by a presumed scammer, who claimed to be working with the Canada Revenue Agency (CRA). Although many would have immediately hung up, unfortunately, the unnamed woman decided that she would go ahead with the call. In a short conversation, the man explained that she, his victim, would need to deposit large amounts of cash into a Bitcoin ATM machine to initiate a transaction to the “CRA’s” crypto…