Authorities issue warning as new scam sweeps through communities: 'They will … direct you to withdraw cash'

Police in Kirkwood, Missouri, are warning people about a scam that steals money from people via bitcoin ATMs. 

What's happening?

Fox 2 Now reported on the scam warning, noting a recent surge in incidents among Kirkwood residents. 

The scammers reach out to people through calls, texts, and online messages, claiming to be a government agent, police officer, tech support, utility providers, banks, or other financial institutions. They'll even pretend to be family members in trouble or online romantic interests. 

Cryptocurrency scammers often claim that the victim's bank account is vulnerable and push them to take urgent action. 

A spokesperson for the Kirkwood Police Department explained in a statement, per Fox 2, "They will then direct you to withdraw cash and send it using a bitcoin ATM, often by scanning a QR code they provide."

Kirkwood police want to remind people that no legitimate agencies or businesses will request bitcoin as payment, and you should never scan QR codes at ATMs. 

Why is this scam concerning?

All scams are concerning, but this bitcoin-focused one is especially unsettling. Once the victims withdraw their money, convert it into bitcoin, and send it to the scammer, it's difficult to retrieve it. 

Police can trace bitcoin transactions to certain accounts, but finding the scammer behind the fraudulent account is another problem.

Unfortunately, this means many victims never recover their stolen money. Elderly people and those unfamiliar with bitcoin are often the targets of these scams. 

This isn't the only concern surrounding bitcoin, though. Cryptocurrency servers require vast amounts of energy to run and water to stay cool. While some think they're more environmentally friendly than paper money, cryptocurrency does have a negative impact on the planet through associated pollution and water scarcity. 

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However, some crypto operations are powered by more sustainable energy sources, such as wind, solar, or hydro power. This helps to avoid excessive burning of planet-warming energy sources, such as coal, gas, and oil, to run them.

What's being done to stop scammers?

The Kirkwood police are spreading awareness in the community and educating residents about how to recognize and avoid scams. Knowing what to look out for protects you from scammers.

It's important to educate others about these scams, and don't let these criminals sour you on cryptocurrency's potential. It's a complex topic, but bitcoin can be beneficial when used properly.

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