Police step in to stop man being scammed into putting thousands into a Bitcoin ATM

Scam Overview - An elderly veteran was targeted in a Bitcoin ATM scam [1] - The scam involved criminals posing as the victim's bank [1] - The victim was instructed to withdraw cash and deposit it into a Bitcoin ATM [3] Financial Impact - The victim had already deposited nearly $58,000 before police intervention [3] - Fraud losses from Bitcoin ATM scams are now topping more than $100 million annually [4] Law Enforcement & Prevention - Police intervened to stop the scam and attempt to recover the funds [1][2] - Cryptocurrency transactions are irreversible, making recovery difficult [4] - The FTC reports fraud losses from Bitcoin ATM scams are skyrocketing [4]