Bitcoin scam nearly cost a 73-year-old $20,000—here’s how she was saved
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Thinking fast may have saved one Massachusetts woman from losing her life savings.
When a 73-year-old began acting oddly and became unreachable after withdrawing a large sum of money, her family knew something was off.
Their quick action—paired with the help of local police—stopped a scammer in his tracks, just moments before she deposited $20,000 into a Bitcoin ATM.
Unfortunately, stories like this are becoming more common.
Scammers continue to find creative, high-pressure ways to target older Americans.
But by learning the signs and sharing these stories, we can help protect ourselves and the people we care about.
A suspicious withdrawal sets off alarm bells
On May 29, Lakeville Police were approached by a concerned family.
Their elderly relative had just withdrawn $20,000 in cash—something she never did—and then stopped responding to calls.
They feared the worst: a scam.
And they were right.
Detective Robert Schiffer began piecing the clues together.
The woman had been contacted by someone who told her that her computer had a virus and that her money was in danger.
The “solution”? Take out cash and deposit it into a Bitcoin ATM, where it would supposedly be "safe."
The scammer even warned her not to talk to anyone—not even her family.
Acting quickly, Schiffer contacted nearby Raynham Police, suspecting that’s where the woman was headed.
They searched local ATM locations and finally found her at Coletti’s Market, still on the phone with the scammer.
She was seconds away from completing the transaction when officers stepped in and saved her from a devastating loss.
Also read: She lost $17,500 to a bitcoin ATM scam—what happened and how to stay safe
How modern scams trick people—especially older adults
These schemes are getting sneakier. Here’s how many of them work:
Why Bitcoin is a scammer’s dream tool
Bitcoin transactions are nearly instant and very difficult to track.
Once the money is sent, it's gone.
Scammers know this, which is why they often push victims toward Bitcoin ATMs.
If someone ever asks you to pay with cryptocurrency, that's a major red flag.
Also read: This online scam completely drained her bank account—Here’s how you can avoid the same disaster
Warning signs to watch out for
Even the savviest people can be caught off guard. Here are common tactics scammers use:
Also read: Think twice before sharing that viral post—it could be a scam.
What to do if you suspect a scam
Stay informed and protect your community
Staying alert, asking questions, and talking openly with loved ones can make all the difference.
Scammers thrive on secrecy and urgency—but when we stay informed and look out for each other, we take away their power.
Let this story be a reminder: it’s never too late to speak up, trust your instincts, and help protect those around you.
Read next: A new phone scam is targeting seniors with fake health insurance deals—here’s what to know before you pick up
Have you spotted a scam lately? Whether you caught on just in time or learned a lesson the hard way, your story might help someone else. What tipped you off? What do you wish you’d known sooner? Let’s help each other stay one step ahead!
When a 73-year-old began acting oddly and became unreachable after withdrawing a large sum of money, her family knew something was off.
Their quick action—paired with the help of local police—stopped a scammer in his tracks, just moments before she deposited $20,000 into a Bitcoin ATM.
Unfortunately, stories like this are becoming more common.
Scammers continue to find creative, high-pressure ways to target older Americans.
But by learning the signs and sharing these stories, we can help protect ourselves and the people we care about.
Scammers are increasingly using Bitcoin ATMs to target older adults in high-pressure schemes. Image Source: Pexels / Tara Winstead.
A suspicious withdrawal sets off alarm bells
On May 29, Lakeville Police were approached by a concerned family.
Their elderly relative had just withdrawn $20,000 in cash—something she never did—and then stopped responding to calls.
They feared the worst: a scam.
And they were right.
Detective Robert Schiffer began piecing the clues together.
The woman had been contacted by someone who told her that her computer had a virus and that her money was in danger.
The “solution”? Take out cash and deposit it into a Bitcoin ATM, where it would supposedly be "safe."
The scammer even warned her not to talk to anyone—not even her family.
Acting quickly, Schiffer contacted nearby Raynham Police, suspecting that’s where the woman was headed.
They searched local ATM locations and finally found her at Coletti’s Market, still on the phone with the scammer.
She was seconds away from completing the transaction when officers stepped in and saved her from a devastating loss.
Also read: She lost $17,500 to a bitcoin ATM scam—what happened and how to stay safe
How modern scams trick people—especially older adults
These schemes are getting sneakier. Here’s how many of them work:
- They pretend to be someone official: Scammers often claim to represent banks, Medicare, the IRS, or a tech support company.
- They create panic: They’ll say your accounts are hacked or you owe money—and pressure you to act fast.
- They isolate you: They may insist you avoid friends or family and stay on the phone, keeping you confused and overwhelmed.
- They ask for unusual payment methods: Bitcoin, gift cards, wire transfers—any payment that’s hard to trace and impossible to recover.
Why Bitcoin is a scammer’s dream tool
Bitcoin transactions are nearly instant and very difficult to track.
Once the money is sent, it's gone.
Scammers know this, which is why they often push victims toward Bitcoin ATMs.
If someone ever asks you to pay with cryptocurrency, that's a major red flag.
Also read: This online scam completely drained her bank account—Here’s how you can avoid the same disaster
Warning signs to watch out for
Even the savviest people can be caught off guard. Here are common tactics scammers use:
- Calls or emails from "official" sources asking for personal information or money
- Urgent threats or promises that require immediate action
- Instructions to keep quiet or not talk to loved ones
- Requests for payment in Bitcoin, gift cards, or wire transfers
Also read: Think twice before sharing that viral post—it could be a scam.
What to do if you suspect a scam
- Take a breath. Scammers want you to rush—don’t. Pause and think.
- Check for yourself. Don’t use any contact info the caller gives. Look up official numbers and call directly.
- Talk to someone you trust. A second opinion can break the scammer’s hold.
- Report it. Let your local police know, and report the incident to the FTC at reportfraud.ftc.gov.
Stay informed and protect your community
- Keep learning. Subscribe to scam alerts through the FTC or your local police.
- Talk to friends and family. Share what you know—especially with older relatives who may be more at risk.
- Listen to your gut. If it doesn’t feel right, it probably isn’t.
Staying alert, asking questions, and talking openly with loved ones can make all the difference.
Scammers thrive on secrecy and urgency—but when we stay informed and look out for each other, we take away their power.
Let this story be a reminder: it’s never too late to speak up, trust your instincts, and help protect those around you.
Read next: A new phone scam is targeting seniors with fake health insurance deals—here’s what to know before you pick up
Have you spotted a scam lately? Whether you caught on just in time or learned a lesson the hard way, your story might help someone else. What tipped you off? What do you wish you’d known sooner? Let’s help each other stay one step ahead!
