Texas police officer stops $40K Bitcoin scam

In this post:

  • A Texas police officer stopped a $40K scam in White Settlement by intervening as an elderly woman was tricked into depositing money into a Bitcoin ATM.
  • The scam involved a fraudster impersonating Chase Bank, convincing the victim to withdraw cash under the threat of arrest.

A brisk maneuver in White Settlement, Texas, saved an elderly woman from a severe financial misstep as she was on the brink of transferring a huge sum of money into a Bitcoin ATM. What appeared to be a normal day took a sharp turn when a local officer disrupted a schemer posing as a representative from Chase Bank.

Bitcoin scam avoided

An alert citizen noticed an elderly woman shoving stacks of cash into a Bitcoin ATM. Concerned, they promptly alerted the WEST COMM Dispatch Center. This happened around 1:00 p.m. on Thursday, June 13, 2024, at a local convenience store on S. Cherry Lane. According to the witness, the senior was chatting on her iPhone, likely with the scammer, and their conversation raised a red flag.

White Settlement Police Department didn’t waste a minute. Officers rushed to the scene and found the elderly woman, who was visibly distressed, believing she was in dire straits with Chase Bank. As the officers dug deeper, they discovered a well-orchestrated scam.

The scammer had arranged transportation for the woman, first to a Chase Bank to withdraw $40,000 and then to the convenience store to deposit it into the Bitcoin ATM. By the time police intervened, $23,900 had already been deposited.

Chief of Police Christopher Cook said, “We are extremely grateful for the citizen who recognized these danger signs and contacted us. It is sickening that these suspects prey on our most vulnerable community members with these types of frauds.”

The ugly face of crypto scams

Scammers often employ tactics such as spoofing to deceive their victims. In this case, the elderly woman saw “CHASE BANK” pop up on her caller ID, a common trick to instill trust and urgency. The scammer threatened to arrest her if she failed to comply with the withdrawal and deposit instructions. Such deceitful practices are rampant and target individuals nationwide, exploiting their fears.

Sgt. James Stewart, who responded to the call, said he was deeply moved by the incident. “All I could do is visualize my mom in this case,” he shared. “I wish we could find this guy and place him behind bars for a very long time because he is probably doing this to other people.” His words echoed the frustration and empathy felt by the officers involved.

The police department is now coordinating with the Bitcoin law enforcement liaison and the Tarrant County Criminal District Attorney’s Office to recover the $23,900 deposited. Plans are in place to honor the vigilant citizen at an upcoming City Council meeting.

Check out the full video of the incident, made using various cameras:

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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