Australian Crypto ATM Scam Nets $50,000 Duping Victims into a Fake Tax Debt Fraud

Australian ATM Bitcoin Scam Nets $50,000

A group of Australian scammers managed to con people out of $50,000 using a blatantly fake tax debt scam. Many victims were lured into using Bitcoin ATMs to pay off some non-existent debts.

The Age-Old Scam

This classic fraud has become one of the go-to scams for scammers across the world due to its high success rates. It was once again implemented in Australia, where the scammers managed to reap over $50,000 from unknowing Australian citizens, who were enticed into paying off debts that they didn’t have in the first place. According to local news reports, numerous victims in Easter Melbourne were scammed by the trick.

The scammers initiated the process by contacting victims and telling them that they had outstanding tax debts. They would convince them that if they did not settle those debts, then they would face a jail term. The unfortunate victims would them withdraw all their savings and then travel to a nearby Bitcoin ATM to pay off their fake debts to specified Bitcoin accounts.

In responding to the news, the police said that these kinds of schemes mainly target susceptible individuals who can be convinced that they risk getting deported due to committing certain illegalities. According to Detective Sergeant Lehpamer, they believe that there could be even more victims to the scam who may have not yet reported the issue due to various reasons. For example, some victims could be in the county on a visa, or they don’t know that Australiana authorities don’t tell people to deposit funds into Bitcoin ATMs.

Total Lack Of Alertness

Australian authorities have urged individuals once more to be especially careful when responding to phone calls or emails from institutions. They recommend double-checking whether those claims are coming from the relevant institutions and whether they have any merit. If you get any call that is along these crooked lines, then you should first make enquiries in the specific institutions, before you go to your bank account to withdraw money to pay or giving out your personal or banking details over the telephone.

What is most shocking about this scam is the fact that Australia does not even accept the payment of tax in cryptocurrencies. Although some projects allow citizens in the country to settle their bills using virtual currencies, all of them work as intermediaries and handle billings for their clients after getting a similar amount in altcoins.

Conclusion

Bitcoin and blockchain have become the scammer’s dream as many people are capitalising on the newness of these technologies to scam naïve people. If people don’t do their due diligence, then these scams and huge losses will continue trending.

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