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There has been a new effort to crack down on cryptocurrency scams in Utah. The city of Layton became the first city in Utah to ban cryptocurrency kiosk machines after many people fell victim to scams. FBI agent Mike Montoya said one of the most common scams involves victims being instructed to deposit money into a crypto machine. It’s a tactic that has led to devastating losses.
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One Utah woman, Anola Johnson, said she lost $850,000 after a scammer contacted her online and built a relationship with her. “He was telling me that he cared about me. He basically figured out pretty quickly what a good target,” Johnson said. The FBI said cases like this are becoming more difficult to stop and even harder to return the money lost to the victim. “It’s rare that we’re able to recover the funds,” FBI Agent Mike Montoya said.
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Agent Montoya said they believe the ban in Layton could make an impact. “I believe that it’ll absolutely make an impact, especially with our elder folks and folks that are kind of being walked from the beginning to the end of transferring the cryptocurrency,” Montoya said. But officials warn scammers are constantly evolving, using new technology to stay ahead. “Subjects are able to make fake websites that look like true banks, that look like true investment firms, making corporations in the state of Utah that appear to be reputable,” Montoya said.
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FBI officials said scammers are increasingly using tools like artificial intelligence to create more convincing schemes. FBI officials said the best way to protect yourself is to never send money to someone you don’t know online. They also urge anyone who believes they’ve been a victim of fraud to report it immediately.
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Authorities in Utah have moved to curb cryptocurrency scams by banning crypto kiosk machines in Layton, marking the first city in the state to enact such a measure. The crackdown follows reports of severe losses, including an $850,000 case cited by a resident who connected online with a scammer. FBI officials warn scammers increasingly use online manipulation and AI to create convincing schemes, underscoring the need for regulatory action.
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FBI Agent Mike Montoya says the ban could protect especially vulnerable residents who are guided step by step through transferring cryptocurrency. Officials note that scammers adapt quickly, crafting fake websites that mimic banks or investment firms, making fraudulent entities appear legitimate. Recovery of lost funds remains rare, highlighting the importance of preventative regulation and public awareness.
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Authorities urge the public to never send money to unknown online contacts and to report suspected fraud immediately to the FBI’s Internet Crime Complaint Center. As scammers evolve with new technology, ongoing education and enforcement are essential to safeguarding consumers and maintaining trust in digital finance.
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