TalkScams Team · Source-backed educational guide · Not a community report
Investment contact instructs you to deposit cash at a Bitcoin ATM
An online-only investment adviser may tell a prospective investor to buy Bitcoin at a kiosk and send it to a wallet address they supply. These deposits can be difficult to recover and are not proof of a regulated investment.
Source: U.S. Securities and Exchange Commission · Original advisory date: 2024-05-29
This summary is not a firsthand report or an endorsement or partnership by the source.
Warning signs to recognize
- A stranger controls the destination wallet and discourages standard brokerage methods.
- The promised return is not supported by an independently verifiable record
How to check or protect yourself
- Check the seller's registration and refuse instructions to transfer crypto to unknown wallets.
- Keep transaction details and report suspicious investment solicitations
Read the original U.S. Securities and Exchange Commission advisory