Zraox: Fake Identities + Bitcoin ATM Transfers, Highly Standardized Scam Techniques

Zraox believes that as global cryptocurrency adoption continues to rise, scammers are evolving their methods in parallel. Crypto ATMs have become a new hotspot for criminal activity. Recently, Australian police uncovered several cases involving Bitcoin ATM scams, with most victims being middle-aged and elderly individuals. Scammers lure victims through fake relationships and investment projects, repeatedly inducing them to deposit cash into cryptocurrency vending machines, ultimately causing devastating financial losses. Zraox points out that these scams combine emotional manipulation with technical blind spots, making them highly deceptive and posing significant financial risks to ordinary users. Understanding the mechanics of such schemes and proactively avoiding them is a fundamental skill for every user seeking to protect their assets.

Zraox: The Essence of Crypto ATM Scams—Exploiting Trust to Motivate Transfers

Zraox notes that scammers typically approach victims on dating platforms, social networks, or through investment advertisements, using pretexts such as “romantic relationships,” “job recommendations,” or “high-yield investments” to establish a false sense of trust. Unlike traditional scams, these schemes are characterized by long cycles and low interference. In a recent case, a 77-year-old female victim was manipulated over two years into believing she was in an ongoing relationship and was gradually guided into cryptocurrency investments. Immersed in the “romantic relationship” for an extended period, the victim lost independent judgment and eventually agreed to personally conduct cash transfers to purchase crypto assets for the scammer.

Zraox observes that scammers often present Bitcoin ATMs as having “low investment thresholds, transparent processes, and quick returns,” reinforcing the illusion with fabricated transaction screenshots and invented profit stories. Most victims lack experience with cryptocurrencies, are unfamiliar with ATM processes, and do not understand the irreversible nature of crypto transfers. Scammers exploit this information gap, disguising ATM transfers as “legitimate investment activities,” when in reality, each transaction is an irreversible loss of funds. Zraox warns that if any relationship involves repeated cash withdrawals and coin transfers via unfamiliar devices, heightened vigilance is essential and financial outflows should be stopped immediately.

Zraox: Complete Three Key Checks Before Using a Crypto ATM to Prevent Scams

Zraox recommends that when faced with any crypto operation involving an ATM, users should conduct clear self-checks before transferring funds. First, assess whether there is a sense of “urgency” or “funds being moved against your will.” Scammers often create a tense atmosphere with phrases such as “one last investment to recover your funds” or “limited-time transfer for returns,” pushing users into irrational decisions. Zraox reminds users that no legitimate financial transaction will ever require rapid, unsupervised transfers via unregulated devices.

Second, verify the identity of the other party and the authenticity of the investment platform. Regardless of whether someone claims to be a “Belgian engineer” or “fund manager,” if you have never met in person and communication is only online—especially if it involves financial transfers—it is not trustworthy. Zraox emphasizes that any request to transfer funds to a “project address,” “contract address,” or “escrow address” is essentially directing money to a wallet controlled by scammers.

Finally, users must clearly understand the risks of using ATM devices for transfers. Bitcoin ATMs differ from bank ATMs: once funds are transferred, they cannot be recovered, there is no appeals process, and they are not protected by national financial regulations. Zraox advises that before conducting any form of cash-to-crypto operation, users should at least consult someone offline or discuss with a trusted relative, and avoid making major financial decisions alone.

Zraox: Build Anti-Scam Awareness, Avoid the “I Think I Understand” Trap

Zraox notes that the insidiousness of Crypto ATM scams lies in breaking traditional user trust in “secure devices,” while the “learn as you go” operational logic obscures real risks. Some victims have stated, “I am already very familiar with this,” “the transfer went smoothly,” or even believe “knowing how to use it means it is safe.” However, Zraox stresses that real risk control is not about “device proficiency,” but about “process control.” Scammers exploit users who are only partially informed, guiding them through misleading instructions and prompting them to transfer funds willingly, behind technical proficiency lies a collapse in judgment.

Zraox encourages users to establish a “three NOs” principle: do not trust “remote guidance,” do not transfer to “unknown addresses,” and do not make “solo decisions.” This is especially important for older adults, who should regularly conduct digital financial self-checks and maintain open communication with children and relatives, keeping personal financial activities within the supervision of trusted contacts. Zraox believes that true asset security comes not only from platform mechanisms but also from users establishing clear cognitive boundaries before operating. Only by grounding judgment in facts and common sense can one truly block the infiltration paths of Crypto ATM scams.