When Scammers Come Calling: How Police Saved a 73-Year-Old from a $20,000 Bitcoin Trap

Picture this: You’re enjoying a quiet afternoon when your phone rings. The voice on the other end claims to be from your bank, urgently warning that your computer has been infected with a virus that’s putting your life savings at risk. They sound official, they know some of your information, and they’re offering to help you protect your money. What do you do?

For a 73-year-old Massachusetts woman, this nightmare scenario nearly cost her $20,000 — until alert family members and quick-thinking police officers stepped in to save the day. Her story isn’t just a close call; it’s a window into one of the fastest-growing threats facing Americans over 60 today.

On May 29th, Lakeville Police Chief Matthew Perkins received a call that's becoming all too familiar. A 73-year-old woman had withdrawn $20,000 in cash from her bank and wasn't answering her phone. Her family was convinced she was being scammed, and they were absolutely right.

The woman was at that very moment on the phone with criminals who had convinced her that her computer was infected with a virus and that the only way to protect her money was to deposit it into a Bitcoin ATM. The scammers had even instructed her not to answer any phone calls, including from family members — a classic isolation tactic that should have every senior's alarm bells ringing.

Thanks to incredible police work across two departments, Detective Robert Schiffer tracked the woman's vehicle to Coletti's Market on North Main Street in Raynham. Both Lakeville and Raynham Police intervened while she was still on the phone with the scammer, successfully preventing the transaction from being completed.

If you've never heard of a Bitcoin ATM scam, you're not alone — but you need to get up to speed quickly. Cryptocurrency-related investment fraud cost adults age 60 and over $716 million in reported losses in 2023. and reported losses from Bitcoin ATM scams exceeded $110 million last year, as fraudsters increasingly persuade victims to send them large sums through crypto kiosks.

The numbers are staggering and getting worse. The Federal Trade Commission reports that the amount of money consumers have lost to Bitcoin ATM scams has risen nearly tenfold since 2020, and consumers over age 60 were more than three times as likely as younger adults to be duped in these schemes.

People age 60 and older registered nearly 17,000 cryptocurrency complaints in 2023 and reported losses of $1.6 billion. The numbers are probably far higher, because scams are notoriously underreported.

But here's what makes this trend particularly alarming: crypto ATM scams are a growing concern, especially as they relate to elder fraud, and cryptocurrency ATMs have been key hotspots for scams, with perpetrators often impersonating government officials or customer support agents to convince victims to deposit cash into the machines.

Understanding exactly how these scams operate is your first line of defense. Scams often begin when bad actors get their hands on a victim's phone number — many of which are increasingly available on the "dark web."

Here's the typical playbook criminals follow:

Stage 1: The Hook A widowed elderly person receives a disturbing phone call from someone claiming to be from their bank and the Federal Trade Commission, urgently warning that their bank account and life savings are at risk due to a security breach.

Stage 2: The Isolation Scammers will scare you into keeping it a secret — even from your closest loved ones. Once they have you alarmed and alone, they'll give you the solution to the problem they just created: "protect your money by moving it."

Stage 3: The Direction Scammers text their targets a QR code connected to a digital wallet. The victim is directed to scan the code and deposit cash into the Bitcoin ATM, which converts it into bitcoin that immediately gets transferred to the scammer — all while the victim thinks they're protecting their assets.

Stage 4: The Process The elderly victim makes multiple trips to the store within a short span of time. Each visit, they painstakingly feed the machine one $100 bill at a time, a process that takes far longer than a typical transaction due to their age and unfamiliarity with the technology.

The Tragic Reality Little does the victim know, the Bitcoin is not being transferred to a secure digital wallet in their name, but instead is being funneled directly into the scammers' untraceable crypto assets accounts.

Because these scammers are depositing the funds in accounts in other countries, getting the money back can be difficult, and law enforcement tries their best to recover stolen money before it reaches overseas entities, but that's not always possible.

Knowledge is power, and recognizing these warning signs could save you or a loved one thousands of dollars. Here are the red flags that should immediately put you on high alert:

The Ultimate Red Flag If your bank contacts you to express concern you are being victimized, this is perhaps the most significant red flag that you are being targeted.

Banks have sophisticated fraud detection systems, and if they're concerned enough to call you, take it seriously.

The good news is that law enforcement, legislators, and communities are fighting back against these scams with increasing sophistication and coordination.

Legislative Action Senator Dick Durbin's proposed Crypto ATM Fraud Prevention Act would prevent new users from spending more than $2,000 in a day or $10,000 over a 14-day period at bitcoin ATMs, and would require companies to speak directly with new customers seeking to make transactions over $500.

Several states are taking action too: States like California and Vermont passed daily transaction limits of $1,000, and many states are requiring vendors to register as money transmitters, enacting fee regulations, and requiring written disclosure notices.

Law Enforcement Innovation Police departments are getting creative with prevention. The Pima County Sheriff's Department has put warning signs on Bitcoin ATMs, and having these alerts right where people are making deposits can sometimes be the difference between losing money and safeguarding themselves.

Family and Community Success Stories The Massachusetts case that opened this article shows how family vigilance and police cooperation can save the day. When family members noticed unusual behavior and acted quickly, they potentially saved not just $20,000, but also prevented the emotional devastation that comes with being victimized.

Your Role in the Fight You can report scams online to the FTC. Sharing your experience can help prevent it from happening to someone else.

Even if you weren't victimized, reporting suspicious contacts helps law enforcement track patterns and protect others.

Are you part of any community groups where you could share this information to help protect other seniors?

The story of the 73-year-old Massachusetts woman could have ended very differently. Without alert family members and responsive police officers, she might have joined the thousands of seniors who lose their life savings to these sophisticated scams every year.

But her story also shows us something hopeful: when we stay informed, stay connected, and look out for each other, we can outsmart the scammers. These criminals count on isolation, confusion, and pressure tactics. They lose their power when we take time to think, verify information, and ask for help.

Falling for a romance scam is not a sign of weakness, but rather a result of sophisticated and manipulative tactics. You are a victim, and it is not your fault.

The same is true for any type of scam — the blame lies entirely with the criminals, not with their victims.

Remember: your money is safe where it is. No legitimate organization will ever ask you to "protect" it by moving it to a Bitcoin ATM. When in doubt, hang up, take a breath, and call someone you trust.

Have you or someone you know encountered a suspicious call about cryptocurrency or Bitcoin? What happened, and what did you learn from the experience? Share your story in the comments below — your experience could help protect another member of our community.