Beware the Bitcoin Deposit Scam

Cybercriminals are at it again—​using fear, panic, and now cryptocurrency as part of a new scam to prey on the vulnerable.

WPCU has been made aware of a scam involving “Bitcoin ATMs." The devices, which turn cash into cryptocurrency, have been popping up all over Southwest and Central Ohio.

Scammers are using Bitcoin ATM machines to take people's money and deposit it directly into their own digital wallet. The fraudsters send urgent, fear-evoking messages with pop-up windows on PCs, emails and texts, telling members that either:

1. Their personal information has been compromised (e.g., their Account or Social Security Number).
2. There is a billing or payment issue with a common third party they may have dealings with, like PayPal or Amazon.

Then direct the member to call the number (fake) on their screen—within the pop-up window, email or text.

Once the member calls the number, they are instructed to move their money to a "safe account" while their account with us is being investigated. In the most recent cases, the scammers are giving specific directions to deposit withdrawn their cash into a local Bitcoin ATM—as a result, the funds go directly into the scammer digital wallet.   

Do NOT fall for it. WPCU will never do this.

WPCU will never direct you to deposit your money into any other third party ac​count. Remember, these scammers can be convincing, and use fear, urgency and scare tactics to get you to comply.

If you receive this warning via a Pop-up banner on your computer, in an email or text message, do not call the number provided on the screen. It's a scam, attempting to steal your hard-earned money.  Instead, contact your local authorities. This is an attempted cybercrime and should be reported accordingly.  

Be cyber smart and protect your hard-earned money.

Stay up to date on latest scams, get cyber safety tips, and learn how to keep your money and your identity safe at www.wpcu.coop/StopFraud.