Milford Resident Falls Victim To Bitcoin ATM Scam: PD

MILFORD, CT — State police recovered $23,000 for a Milford resident who was scammed into depositing money into a series of Bitcoin ATMs, according to state police.

Police learned of the incident on Sept. 2. The victim deposited $41,150 in cash into the machines.

The funds were traced to two major cryptocurrency exchanges in the U.S. and Cayman Islands. State police recovered a portion of the Bitcoin from the two exchanges, which were returned to the victim through restitution action before Milford Superior Court. The suspects reside outside the U.S. and no arrest is anticipated, police said.

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Cryptocurrency scams are becoming more complicated and prevalent, state police said in a statement. Time is of the essence and people who think they may be a victim of a scam should report the incident to state police or a local police department as soon as possible. Victims should also file a complaint with the Consumer Financial Protection Bureau.

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