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.
Table of contents
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The Massachusetts Close Call
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The Exploding Threat of Bitcoin ATM Scams
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Why Seniors Are Prime Targets
The Massachusetts Close Call
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 A 73-year-old woman had withdrawn $20,000 in cash from her bank and wasn't answering her phone.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.
"This case is a powerful reminder of how sophisticated and manipulative these scams have become quote"
Police Chief Matthew Perkins Name
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.
The Exploding Threat of Bitcoin ATM Scams
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.
What is a Bitcoin ATM?
Bitcoin ATMs look just like regular bank ATMs but instead of dispensing cash, they convert your cash into digital cryptocurrency. There are nearly 32,000 of these machines nationwide today, up from just over 4,000 at the start of 2020.
You'll find them in convenience stores, gas stations, and supermarkets — making them dangerously accessible for scammers' purposes.
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.
The Scope of the Crisis
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Seniors lost $1.33 billion to cryptocurrency scams in 2023 alone — nearly 40% of all elder fraud losses
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The median amount lost by Bitcoin ATM victims is $10,000 per person
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Criminals are getting more sophisticated, which is likely to be a major trend in 2025
Why Seniors Are Prime Targets
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:
- Anyone demanding payment in cryptocurrency — no legitimate business is going to demand you send cryptocurrency in advance – not to buy something, and not to protect your money. That's always a scam.
- Someone from the government sending you to a Bitcoin ATM — NEVER.
- Pressure to act quickly — scammers create a sense of urgency to produce fear and lure victims into immediate action.
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.
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:
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Independent Verification Never take a caller's word for anything involving your money. If you're worried, call your real bank, broker, or investment advisor using the number you find on your account statements. Don't use the number the caller gives you — that'll take you to the scammer.
Pause and Process Never panic or react quickly. If a business, government agency, or even a grandchild in need contacts you, it's critical to check who you're really dealing with.
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.
What This Means You
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.
