Clive resident falls victim to cryptocurrency scam; police warn to be on the lookout

A resident of Clive has lost thousands of dollar in a cryptocurrency scam, prompting the Clive Police Department to warn residents to be vigilant when using Bitcoin ATMs.

The scammer posed as a Polk County sheriff's deputy and convinced the resident to send $6,600 through a Bitcoin ATM or otherwise face arrest, police said. Bitcoin ATMs allow users to convert cash into cryptocurrency.

"The scam highlights the growing concern of scammers exploiting the anonymity and difficulty in tracking cryptocurrency transactions," Clive police wrote on Facebook. "According to recent reports, scammers are utilizing fear tactics and impersonating law enforcement officials to deceive unsuspecting individuals into transferring funds through Bitcoin ATMs."

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The department warned that once funds are transferred through a Bitcoin ATM, "they become virtually untraceable, making it incredibly challenging to recover the money."

Clive police are investigating the theft along with the Polk County Sheriff's Office. Both urge residents not to send money to individuals over the phone or through Bitcoin ATMs and to contact law enforcement authorities immediately to report suspicious activity.

For more information or to report a scam, call Clive police at 515-278-1312.

Francesca Block is a breaking news reporter at the Des Moines Register. Reach her at FBlock@registermedia.com or on Twitter at@francescablock3.

This article originally appeared on Des Moines Register: Clive resident loses thousands in Bitcoin ATM scam, police say