NEWS RELEASE
NIAGARA REGIONAL POLICE
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The Niagara Regional Police Service (NRPS) is taking proactive steps to combat fraud involving funds transferred via cryptocurrency automated teller machines (ATM). Detectives from the NRPS Central Fraud Unit and CyberCrime Unit will be posting warnings on these machines, informing the public about potential fraud risks. The machines are located in a variety of public places, primarily in variety stores and shopping malls.
In 2024, there were 60 reported incidents in the Niagara Region where victims transferred over $1,300,000.00 using cryptocurrency ATMs in various types of fraud.
Fraudsters have increasingly used these machines to collect payments for fake government debts, utility bills, or other fraudulent schemes (romance, employment, phishing) preying on vulnerable victims. These ATMs serve legitimate purposes for individuals looking to purchase/transfer cryptocurrency; however, those unfamiliar with their operation should exercise extreme caution and avoid their use in any transaction that seems suspicious or involves unsolicited payment requests. If anyone or any company requests that you pay through one of these machines, look up the contact details through previous statements or online and communicate via established methods to verify information.
Cryptocurrency transfers made through these machines are irreversible. Once the funds are sent, they cannot be recovered, making these schemes particularly devastating for victims. Participating cryptocurrency ATM companies in this campaign include Bitcoin Depot, Bitcoin Well, Bitcoin4U, HODL, Instacoin, and LocalCoin.
Anyone who believes they are a victim of cryptocurrency fraud is urged to contact the Niagara Regional Police Service at (905) 688-4111 to file a report. For further information on how to protect yourself from fraud, please visit the Canadian Anti-Fraud Centre ( www.antifraudcentre-centreantifraude.ca ).
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