LAS VEGAS (KTNV) — The Nevada Secretary of State's Office is warning people of a recirculating scam connected to the use of cryptocurrency ATMs, also known as Bitcoin ATMs.

According to the North American Securities Administrators Association (NASAA), scammers are targeting people by contacting them with promises of an investment with high returns and low risk — often fabricating an urgent justification for victims to deposit cash into a Bitcoin ATM.

The scammers usually contact people via social media or by phone.

“Cryptocurrency continues to gain popularity for its accessibility, privacy and other advantages, but bad actors are taking advantage of the technology. Crypto transactions are designed to be anonymous and instantaneous — making it hard for the fraudster to be tracked and t

See Full Page