The U.S. Federal Trade Commission (FTC) has issued an alert about a new type of crypto scam that’s making the rounds. It’s a new spin on fraudsters asking people to pay with cryptocurrency. The scammer calls the impersonator and asks for a QR code. After that, the victim is directed to go to a shop to pay their money through a crypto ATM.

Here’s how it works – someone might call pretending to be from the government, law enforcement, or a local utility company. They’ll wind up asking you for money. If you believe the story they tell and you seem willing to engage, they’ll stay on the phone to direct you to withdraw money from your bank, investment, or retirement accounts.

Then they’ll tell you to go to a store with a cryptocurrency ATM (and they’ll stay on the phone the whole time). Once you’re there, they’ll direct you to insert your money into the ATM and buy cryptocurrency. Here’s where the QR code comes in: they send you a QR code with their address embedded in it.

They will ask you to scan the code once you’ve purchased cryptocurrency. Then your money disappears.

Here’s the main thing to know: nobody from the government, law enforcement, utility company, or prize promoter will ever tell you to pay them with cryptocurrency. If someone does, it’s a scam, every time.

Any unexpected tweet, text, email, call, or social media message — particularly from someone you don’t know — asking you to pay them in advance for something, including with cryptocurrency, is a scam.

ReportFraud.ftc.gov is the best place to report fraud.

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