Scammers Use Cryptocurrency ATMs to Target Potentially Vulnerable Victims

Australian police have been informed of a scam in which the perpetrators are requesting people deposit funds for them at cryptocurrency ATMs. It is thought that those behind the scam are targeting newly-arrived migrants who are unsure if such requests are genuine since they are navigating an entirely foreign system of taxation for the first time.

Elaborate Cryptocurrency Scam Generates Tens of Thousands of Dollars

According to a report in the U.K.’s Daily Mail newspaper, there have been four victims of the Australian crypto ATM scam to date. All of those defrauded out of funds were based in Melbourne’s eastern suburbs.

The scam itself involves those behind it contacting potential victims with a request for outstanding taxes. It states that these must be paid directly into one of the city’s cryptocurrency ATM machines and sent to an unknown address.

Police investigating the scam have reason to believe that those behind it are targeting newly-arrived economic migrants. This…