At Homeland Credit Union, protecting our members is our top priority. Recently, we've seen an alarming increase in cryptocurrency-related scams, especially those involving cryptocurrency ATMs. These scams are targeting everyday individuals, and they're becoming more convincing by the day.

Whether you've never used cryptocurrency or are curious about it, this is an important message for everyone in our community.

How These Scams Work

Fraudsters are using a variety of tactics to trick people into sending them cryptocurrency, usually through Bitcoin ATMs or other crypto kiosks. Here are some common red flags:

  • "Law Enforcement" or Government Threats: Scammers pose as police officers, IRS agents, or even Homeland Security, claiming you owe money or are under investigation. They demand payment in cryptocurrency to "settle the matter quickly."
  • "Urgent Account Issues": You may receive a call, text, or email saying your bank or credit card account is compromised and must be “secured” by transferring funds into a “safe” crypto wallet.
  • Romance or Friendship Scams: Someone you meet online quickly builds a relationship and then asks for help, often involving investment opportunities or financial emergencies, using crypto.
  • Prize or Lottery Scams: You're told you’ve won a contest or prize, but to claim it, you need to pay taxes or fees using cryptocurrency.

What You Should NEVER Do

  • Never use a cryptocurrency ATM to send money to someone you don’t personally know.
  • Never pay bills, taxes, or fees with cryptocurrency. No legitimate business or government agency will ask for payment this way.
  • Never trust a caller who pressures you to act fast or keep the conversation secret. That’s a classic sign of fraud.

What You SHOULD Do

  • Hang up and verify. If you get a suspicious call, hang up and contact the organization directly using a trusted phone number.
  • Call Homeland Credit Union. If you're unsure about a transaction or communication, call us before doing anything. We're here to help.
  • Report the scam. You can file a report with the FTC at reportfraud.ftc.gov.

Remember: Crypto Transactions Are Not Reversible

Once you send cryptocurrency, it’s nearly impossible to get it back. Scammers know this, and that’s why they prefer it.

At Homeland Credit Union, we will never ask you to send money via cryptocurrency. If something feels off, it probably is.

Stay safe. Stay informed. And always reach out if you have questions.
Together, we can protect our community from fraud.

Contact Us: 740-775-3331
Learn More about Fraud: https://www.homelandcu.com/about-us/blog