Australia’s authorities have warned the public about an emerging new type of fraudulent scheme involving Bitcoin (BTC) ATMs, Victoria Police Department said on Friday. The illegal scheme has accounted for $50,000 in lost from immigrants in Melbourne suburbs.

Fraudsters called victims by phone and threatened people that they would report them to the authorities and immigrants would get arrested due to their alleged tax debts. To avoid these actions, victims should pay their duties to a certain Bitcoin ATM in Braybrook, Melbourne. Scammers claimed that they had information from accountants and federal police.

All migrants withdrew money from their banks and deposited fiat currency to a particular BTC account.

The scheme targeted four residents so far, but the…

This article appeared first on Cryptovest

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