JACKSON, Miss. – Secretary of State Michael Watson urges Mississippians to be aware of the increasing scams involving Bitcoin ATM machines.

"Our office has continued to see an uptick in securities-related scams, and we encourage Mississippians to exercise caution when investing hard-earned dollars. With the ever-changing landscape of technology, including cryptocurrency and Bitcoin, we must remain vigilant," said Secretary Michael Watson.

A Bitcoin ATM, also known as a Crypto ATM, is an electronic kiosk designed to facilitate buying cryptocurrencies using any financial transaction card - including a cash or debit card. These machines have the appearance of traditional ATMs and are located in convenience stores, malls, and other high-traffic areas.

Consumers can deposit money into the ATM, which then charges a fee, transfers the money into cryptocurrency, and puts it into an electronic wallet. The consumer provides the address of the wallet. While these machines provide convenient access to digital currencies, Bitcoin ATMs are increasingly being used as a key player in crypto or Bitcoin scams.

Mississippians are encouraged to be mindful of these scams and follow these proactive measures to protect themselves: 

• Never click on links or respond directly to unexpected calls, messages, or computer pop-ups. If you think it could be legitimate, contact the company or agency directly through its official phone number and/or website instead of the link provided.
• Slow down. Scammers want to rush consumers. Before making hasty decisions, speak with someone you trust or call our office.
• Never withdraw cash in response to an unexpected call or message. A trusted source will never make that request.

Be cautious if someone tells you information is a secret or cannot be shared with anyone. This is always a red flag because scammers use this method to isolate individuals from trusted resources.

If an individual claims to be a financial broker or advisor, Mississippians should always verify his or her status by contacting the Secretary of State's Office or use the online search tool.

For questions or more information, please contact the Securities Division at (601) 359-1334 or email Securities.CustomerService@sos.ms.gov.