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Elderly Michigan couple loses $350K in Bitcoin ATM scam

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August 1, 2022

An elderly couple in Traverse City, Michigan lost $350,000 due to Bitcoin ATM fraud. An individual claiming to be Apple support called them and told them to transfer money to a Coin Flip ATM, according to a report by NBC TV 6.

"Because of the lack of documentation, the lack of paperwork that we have, there's really no way for us to trace that money once it's gone," Lieutenant Brandon Brinks of the Grand Traverse Sheriff's Department, told the news outlet. "And currently they are out that money."

To avoid fraud, experts recommend calling a business directly from a number listed on its website if you receive a suspicious call.