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.


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.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitfinex & Tether Class Lawsuit Revised; Adding Bittrex and Poloniex to Alleged BTC Price Manipulation

Revised lawsuit on Bitfinex’s alleged price manipulation of the market using Tether (USDT) during the 2017 bull run to $19,800 has added two...

‘Masked Hero' Calling to ‘Buy Bitcoin' Amidst the Peaceful Protests and Riots in the US

Bitcoin is taking an active part in the riots across America. People are protesting since last week over the death of George Floyd,...

DiversiFi, Formerly Ethfinex, Launches Its DEX 2.0 With Starkware; Processing 9,000 + TPS

Bitfinex sister decentralized exchange, DEX in short, DiversiFi, which relabeled from Ethfinex in August last year, announced a relaunch of their platform, now...

Bitcoin Difficulty Sees 2nd Largest Drop of 2020 to 9.29%; Hashrate & Price Continue to Dance

Today, the bitcoin network difficulty took a drop of 9.29% to 13.73 trillion, as per Coinwarz. This is the fourth downwards adjustment this year after...

Japan’s Top Banks Join Crypto Exchange-Led ‘Study Group' to Discuss Digital Payment System

Three Japanese banking industry heavyweights are joining arms in a study group to focus on digital payment settlement networks in the country. The...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today