Arizona Attorney General warning of bitcoin scam targeting seniors

Sep 7, 2023, 11:31 AM

(Pexels Photo)...

(Pexels Photo)

(Pexels Photo)

PHOENIX — Arizona Attorney General Kris Mayes is warning of a new bitcoin scam that is going after seniors.

Scammers are calling seniors and telling them their financial accounts have been compromised, with the hook being that the victim has to withdraw money immediately and wire it to the fraudsters as bitcoin.

The criminals often have victims’ personal information and discourage contacting law enforcement or telling anyone about the plans.

“Scammers are taking advantage of vulnerabilities among some senior citizens like trust in others and a lack of familiarity with digital currencies like bitcoin,” Mayes said in a press release.

“It’s crucial that our seniors take the time to verify information and consult with trusted advisors or family members before making irreversible financial decisions.”

How can you avoid falling for the bitcoin scam?

The AG’s office offers several tips to avoid getting scammed. Here they are:

  • Verify information: Before taking any actions, hang up and independently verify the legitimacy of the caller by directly contacting the organization they claim to represent. Never use the contact details they provide — call whoever they claim to represent directly. Scammers can mask numbers making it appear that a legitimate company or organization is calling you.
  • Be skeptical: Always be skeptical of unsolicited calls, especially those asking for immediate action involving financial transactions. A government agency will never ask you to remove money from your accounts to send via bitcoin, wire transfer or gift cards.
  • Secure your personal information: Never share personal information like your social security number, bank account details or passwords over the phone with unknown callers or give anyone real-time access to your computer.
  • Consult trusted individuals: Always consult with a trusted family member or friend before making any substantial financial decisions, especially those involving digital currencies like bitcoin.
  • Report suspicious activity: If something feels off, it probably is. Report the call to local law enforcement and file a complaint with the Arizona Attorney General’s Office.

What do I do if I’ve been got by the bitcoin scam?

Anyone who believes they’ve been a victim of the bitcoin scam or other fraud can file a consumer complaint online.

Complaint forms can also be mailed to individuals by contacting the AG’s office in Phoenix at 602-542-5763, in Tucson at 520-628-6648 or outside the Phoenix and Tucson metro areas at 800-352-8431.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

(Pexels Photo)...

Gilbert opens animal cruelty investigation after dogs found needing medical care

An animal cruelty investigation is underway after dogs needing medical care were found at a Gilbert residence, authorities said Wednesday.

58 minutes ago

A potentially new jaguar was photographed in southern Arizona twice earlier this year. The photogra...

Danny Shapiro

Say cheese: Rare jaguar sighting caught on camera in southern Arizona mountain range

Trail cameras have captured two rare photos of a wild jaguar in a southern Arizona mountain range earlier this year.

2 hours ago

Google Street View image of Apollo High School in Glendale, Arizona. A crash spilled onto the schoo...

Police say driver was going 80 mph in 25 mph zone before fatal crash outside Glendale school

A driver in a fatal crash that spilled into a West Valley high school Tuesday was going 55 mph above the speed limit and ran a red light, authorities said.

3 hours ago

(Bissell Pet Foundation photos)...

Valley kennels taking part in ‘Empty the Shelters’ adoption discount event

Several Valley and state shelters will participate in a national reduced-fee pet adoption event in October.

5 hours ago

From left, former Arkansas Gov. Asa Hutchinson, former New Jersey Gov. Chris Christie, former Vice ...

Associated Press

Republican hopefuls face growing urgency to stop Donald Trump entering 2nd debate

Republicans are meeting for their second presidential debate on Wednesday as Donald Trump's top rivals seek to blunt the momentum of the former president.

6 hours ago

caution tape near a crime scene...

Man hospitalized after being stabbed in Phoenix, no suspects detained

Phoenix police are searching for suspects involved in a stabbing after a man was hospitalized Tuesday night, authorities said. 

8 hours ago

Sponsored Articles

Home moving relocation in Arizona 2023...

BMS Moving

Tips for making your move in Arizona easier

If you're moving to a new home in Arizona, use this to-do list to alleviate some stress and ensure a smoother transition to your new home.

Sanderson Ford...

Sanderson Ford

Sanderson Ford congratulates D-backs’ on drive to great first half of 2023

The Arizona Diamondbacks just completed a red-hot first half of the major league season, and Sanderson Ford wants to send its congratulations to the ballclub.


OCD & Anxiety Treatment Center

5 mental health myths you didn’t know were made up

Helping individuals understand mental health diagnoses like obsessive compulsive spectrum disorder or generalized anxiety disorder isn’t always an easy undertaking. After all, our society tends to spread misconceptions about mental health like wildfire. This is why being mindful about how we talk about mental health is so important. We can either perpetuate misinformation about already […]

Arizona Attorney General warning of bitcoin scam targeting seniors