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Americans are losing more than $5.5 billion through cryptocurrency scams each year, according to a 2023 FBI study. Now, Bitcoin ATMs popping up around the Kansas City area are making it even easier for scammers to target vulnerable people.
A Kansas City mom said her son recently tried to stop an elderly woman from transferring $15,000 at a Bitcoin ATM inside a Waldo grocery store.
The Kansas City, Missouri, Police Department confirmed there is an ongoing fraud investigation at Fareway Meat Market near 79th and Ward Parkway.
"It boggles my mind that anybody could be convinced to do that, but, unfortunately, they are preying on our most vulnerable parts of society," said Kim Campbell, Kansas City resident.
Campbell said the woman was older and had been told she would lose her home if she didn't transfer the money.
Clay County Prosecutor Zachary Thompson said his office gathered reports from KCPD. The results found residents lost $2.3 million to cryptocurrency scams in the last two years, with similar incidents occurring in Gladstone, North Kansas City and Smithville.
"This problem isn't limited to one city or community; it's happening all over the metro area and in Clay County as well," Thompson said.
In Liberty, police are taking preventive measures by placing warning signs on cryptocurrency ATMs to alert potential victims.
Cryptocurrency ATMs look similar to traditional bank ATMs, but once money is deposited, it becomes extremely difficult to track. This makes it nearly impossible for law enforcement to catch the perpetrators.
"Not a single suspect was arrested and no charges were brought [in Clay County]," Thompson said. "That's why education and prevention are so important with this type of crime."
The Clay County Prosecutor's Office has established a program called Citizen Education Against Scams and Exploitation (CEASE) to help combat these crimes. Thompson teaches people to take their time, talk to someone they trust, and conduct research before making significant financial decisions like transferring thousands in cryptocurrency.
Campbell plans to write to the Missouri attorney general about the scam her son witnessed, hoping to increase awareness and help protect others.
"Well, I'm thankful someone is doing something about it," Campbell said.
The Clay County Prosecutor's Office offers free presentations on scams to interested organizations.
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This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
