Bitcoin scam targets overnight retail businesses in Michigan

THREE RIVERS, MI - Scammers are targeting local businesses in Three Rivers by tricking overnight employees into depositing cash into Bitcoin machines. The Three Rivers Police Department, led by Police Chief Scott Boling, has reported a rise in these telephone scams specifically aimed at retail establishments during late-night hours.

The scam typically involves a caller impersonating the business owner who instructs employees to withdraw cash and deposit it into a Bitcoin machine, which deviates from the business’s usual cash handling procedures. This manipulation creates confusion and can lead to significant financial losses for the targeted businesses.

A Bitcoin machine, similar to an ATM, allows users to buy or sell Bitcoin and other cryptocurrencies, making it an appealing but risky target for scammers. Employees may not recognize the legitimacy of the request due to the nature of these machines.

Chief Boling urges local businesses, especially those operating overnight, to educate their employees about these scams. He emphasizes the importance of having clear points of contact within the business to verify any unusual instructions received via phone.

By implementing these preventive measures, businesses can better protect themselves from falling victim to this growing trend of scams targeting their financial operations.