Man saves Canadians from Bitcoin ATM scams

TL:DR Breakdown:

• A store owner in North Delta saved Canadians from sending thousands of dollars to Bitcoin ATM scammers.
• This scam has been on the rise in the country, as many people aren’t aware of the Canadian law.

Scammers are increasingly pestering residents in Canada with lots of Bitcoin ATM scams, where they impersonate certain government agencies to steal money from unsuspecting people. As the law enforcement authorities go out to inform/warn citizens about the frauds, a British Columbia (B.C) convenience store owner, Ravi Patel, and his wife learned and was able to convince many people from sending thousands of dollars to the scammers via the Bitcoin ATM.

Canadians are losing thousands in Bitcoin ATM scams 

Patel was informed about the rising Bitcoin ATM scams by the local police, who moved around the community to alert the residents who may be unfamiliar with Canadian laws. The B.C. convenience store owner took things a bit further by posting warning signs about the scam on the Bitcoin ATM in his store. The warning was written in both English and Hindi, according to the report.

The store owner mentioned that they had stopped more than eight persons from making crypto transfers to the scammers. Per the report, they recently halted a man from transferring about $5,500 to the scammers via the Bitcoin machine. Also, they were able to intercept a girl’s transaction with the scammers. According to them, she had $7,000 and already sent $3,700 to them. “My wife and I both rushed to her, grabbed her hand, and then we stopped her.”

Scammers impersonate gov’t agencies to defraud people

As reported, the scammers pose as Canadian government agencies when reaching out to the potential victims. The fraudster would claim that these people defaulted on a thing or the other and also ask them to send a certain amount of money via the Bitcoin ATM in order to correct the issue. However, the police made it known that the government would demand any payment or tax from the residents via Bitcoin.

“The government does not demand any payment in Bitcoin. If any Canadian government agency demands you pay your bills, your taxes in Bitcoin, it’s a sure sign it’s a scam,” said Cris Leykauf, who is the public affairs manager for North Delta police.