Canadian Woman Loses $48,000 To BTC ATM Scam

Nishanth Shetty

October 13, 2018 2:46 pm

Bitcoin Scam

Canadian Woman Loses $48,000 To BTC ATM Scam | Coindelite News
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A Canadian woman lost 62,500 Canadian dollars ($48,125) due to a Bitcoin ATM Scam. The victim claims that she sent money to a scammer through a Bitcoin ATM. The women have filed a case against the ATM provider Instacoin ATM Canada Inc. Charlottetown Provincial Court, Canada has taken up the case.

The chief judge Nancy Orr stated that it is unfortunate that the victim has lost such a huge amount of cryptocurrency. It is the responsibility of Bitcoin buyers to know what they’re doing.

The victim’s name is not yet revealed due to security reasons. The women had deposited 62,500 Canadian dollars into a bitcoin ATM. A man claiming as an officer at the Canada Revenue Agency called her. The caller threatened her with an arrest order for not paying taxes. She believed that she owed taxes to the government.

The woman spoke about how the scammer had her on speed dial and threatened her with the intimate details about her family. She was a new immigrant and believed the threats of arrest and deportation. She transferred the money to a Bitcoin address given by the unknown man over a phone call.

The victim stated:

“It’s really hard. I need that money back. I want other people to know what happened to me, so it doesn’t happen to them.”

Michael Drake, representing Instacoin ATM Canada Inc. said that the company merely provided a financial service to the woman. She converted cash into Bitcoin and sent it to an unknown fraud Bitcoin address.

Recently, it was found that Australia has had the highest number of cases where victims lost their money over Bitcoin ATM scams. The fraudsters contacted victims with a request for outstanding taxes. The victims were asked to deposit a certain amount of Bitcoins to an unknown Bitcoin address using nearby crypto ATMs.

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