PHOENIX — Arizona Attorney General Kris Mayes is sharing a new warning with ABC15 about an alarming trend her office is dealing with.
"We're just seeing an increase in the number of people who are being scammed and defrauded by Bitcoin ATM machines and just Bitcoin scams in general, and people are losing enormous amounts of money that in some cases, tragically life savings, the money just disappears," said Mayes.
Her office is now trying to spread the word to prevent more people from falling victim.
"If it's Bitcoin-related, really do your due diligence. Make sure that you know what you're getting into and do everything you can to verify what it is that you're giving your money to," Mayes explained.
She says if you are unsure about a transaction, reach out to the Attorney General's Office.
"One thing that you can do is just contact our office and go to azag.gov if you have a concern about something, and we can help out. We can sort of help a person determine whether you know, this thing is a scam or fraudulent practice," said Mayes.
She also suggests using the Better Business Bureau as a resource. On the BBB website, you can look up businesses to see if they are reputable.
Finally, she wants people to know that if you're being asked to pay a bill in Bitcoin, it's probably a scam.
"No government agency or official agency will ever ask you to pay in Bitcoin. So, if you're getting a solicitation that says, 'I'm a government entity or I'm a representative of a government agency and I want you to pay in Bitcoin,' that is a scam. It's absolutely a red flag. Run in the other direction," explained Mayes.
She says it is especially important for people to be vigilant about potential Bitcoin scams because of how difficult it is for people to recover their money.
"Once you have wired the money out of your bank account, it is really hard to get it back," Mayes added.
If you are worried about a potential Bitcoin scam, you can contact the Attorney General's office by email at ConsumerInfo@azag.gov or call 602-542-5025.
