Law enforcement in Southern Nevada is sounding the alarm over a surge in crypto ATM scams that have already ensnared local residents, particularly the elderly. Scammers are posing as law enforcement officers and using high-pressure tactics, such as threatening arrest, to convince victims to withdraw large sums of cash from their bank accounts. The victims are then instructed to deposit the money into cryptocurrency ATMs, making the funds nearly impossible to trace or recover.

Clark County is home to more than 400 crypto ATMs, often located in convenience stores, gas stations, and liquor stores. These machines, intended for buying and selling digital currencies, have become a convenient tool for fraudsters due to the lack of strict regulations and limited safeguards. While many machines display scam warnings and disclaimers, officials say these are not enough to deter determined criminals.

A recent incident involved a 66-year-old man who was contacted by a scammer pretending to be a police officer. The scammer remained on the phone throughout the entire process, tracking the victim’s actions and urging him not to hang up. Fortunately, the intended transaction was interrupted by a vigilant store manager who recognized the signs of a scam and called police, preventing the loss.

Local law enforcement and the Nevada Attorney General’s Office are now working together to address the problem, exploring possible regulations that could include limits on transaction amounts and improved refund policies for those caught in scams. Authorities urge the public to remain vigilant, especially seniors who are most frequently targeted, and to report any suspicious activity immediately to law enforcement. Public education and community partnerships are seen as key strategies in combating this growing threat.