Summary: Almost every crypto scam ends the same way: someone you have never met convinces you to send money urgently, often through a Bitcoin ATM or an irreversible transfer. Learn the five patterns we see most, the red flags that give them away, and the things our staff will never ask you to do. If someone told you to buy crypto today to fix a problem, pay a fee, or help a person you have only met online, stop and talk to a human first. That conversation is free at either of our stores.
The five scams we see most often
1. The romance or "pig butchering" scam
Someone you met online builds a relationship over weeks or months, then introduces an investment opportunity with amazing returns. The app they show you is fake, the early "profits" are bait, and the money is gone the moment you send it. The tell: you have never met this person, and the relationship always circles back to money.
2. The government or utility impersonator
A caller claims to be the IRS, the police, or your power company. There is a warrant, a fine, or a shutoff, and the only way to fix it right now is to deposit cash into a Bitcoin machine. No government agency or utility accepts payment through a Bitcoin ATM. Not one, not ever.
3. The fake support call
Your "bank" or a "crypto exchange" calls about suspicious activity and needs you to move funds to a safe wallet they provide. Real institutions never ask you to move money to protect it. The safe wallet is the scammer's wallet.
4. The giveaway or celebrity double-your-coins post
Send one coin, get two back, endorsed by a famous face. It is always fake. There is no giveaway, and there never has been.
5. The job or overpayment scam
A new employer or buyer sends you a check, asks you to buy crypto with part of it and send it on. The check bounces days later and you are out the crypto. Anyone who pays you and asks you to forward crypto is using you to launder or steal.
Red flags that end the conversation
- Urgency. Every scam has a countdown. Real institutions give you time.
- Secrecy. You are told not to tell your bank, your family, or the store clerk what the money is for.
- Payment by crypto only. Legitimate bills can always be paid another way.
- Guaranteed returns. Nobody can guarantee crypto profits. Anyone who does is lying.
- A wallet address someone else gave you. If you did not create the wallet, it is not yours.
What our staff will never do
As a FinCEN-registered Money Services Business, we verify ID on every trade, and our team is trained to spot coached customers. We will never ask you to send coins to an address we provide for "verification". We will never rush you. And if your story sounds like one of the patterns above, we will ask questions, because stopping a scam at the counter is part of the job. A kiosk cannot do that for you.
If you think you are being scammed
- Stop all contact and do not send anything more, no matter what they threaten.
- Report it at reportfraud.ftc.gov and ic3.gov (the FBI's Internet Crime Complaint Center).
- Tell your bank right away if any account details were shared.
- Talk to a real person. Walk into either of our stores and ask; the conversation costs nothing.
Crypto itself is not the scam. The scam is the stranger with a story and a deadline. Trade with verified people, keep your coins in a wallet you control, and when something feels off, slow down and ask a human. That is what we are here for, in San Jose and Stockton.