Scammers have a number of ways to pull off a successful scheme. Sometimes, multiple fraudsters are involved in a single heist, posing as employees of a government agency or company, including large tech companies like Microsoft or Apple, the FTC said.

A scam often begins when malicious actors obtain a victim’s phone number. Many of these numbers are increasingly available on the “dark web,” the part of the Internet that normal browsers and search engines cannot reach, such as certain chat rooms, and which has made illegal activity possible.

Scammers often contact victims claiming there is an urgent problem with an account, sometimes via a message that looks like a legitimate warning, such as a pop-up notification.

“They try to create a situation that is really hard to ignore,” Fletcher said. “Then people are convinced that the problem is actually extremely serious.”

Indiana resident Marilyn LoCascio, 76, says she lost $31,500 to a scam ring involving people posing as an Apple tech support specialist, a bank teller and two government officials. It started when she received what appeared to be a security alert on her iPad, which led her to a fraudster who told her she had been hacked, with a payment to an online pornography site made from an account in her name.

“I just called the number without thinking. … It was supposed to be something other than Apple,” LoCascio said. “A gentleman answered the phone who was supposed to be a technician, and he even gave me a case ID, and from there it just took off.”

As her interactions with the scammers continued, LoCascio sensed something was amiss. But after being put on a conference call with someone posing as a U.S. Treasury Department official, she became convinced that nothing was amiss. She added that she had never heard of Bitcoin before, but the apparent urgency of the situation made it seem prudent to follow instructions to protect herself.

Cryptocurrency scams have risen along with the price of Bitcoin, which is now worth about $60,000, roughly double its value a year ago. But Fletcher said that while many such scams, such as shady investment schemes, tend to target younger people, about $2 of every $3 lost in a Bitcoin ATM scam went to someone near or already of retirement age.

“These Bitcoin ATMs appear to have opened a gateway of sorts for scammers looking to use cryptocurrency to target seniors,” she said.

Bitcoin ATM operators say they have taken measures to combat fraud and illegal activity.

“We issue numerous scam alerts on our machines at nearly every stage of a consumer transaction to prevent individuals from falling victim to fraud and scams,” Bitcoin Depot Chief Operating Officer Scott Buchanan said in a statement.

The company, which describes itself as the largest bitcoin ATM provider, said its operations are heavily regulated and include extensive compliance and consumer protection policies. “We also have live customer service via email, chat, text and phone calls and encourage consumers who are concerned about a potential scam to contact our customer service team before transacting,” Buchanan said.

Bitcoin Depot has not been charged with a crime, though it is currently the subject of at least one lawsuit from a user who claims she was the victim of a fraudster at one of its kiosks. The company has denied responsibility.

“Unfortunately, like all financial institutions, we cannot prevent all instances of fraud that occur using our services,” Buchanan said.

Fletcher said some people have caught on to the scam quickly enough to alert the ATM operator and eventually get their money back, but such cases are rare. The best move, she said, is to take a breath and think twice before sending money through a Bitcoin kiosk at someone’s request.

“It makes sense that people would want to respond to a message like this quickly, but because these types of scams are so widespread, it’s really important that people take the time to check,” Fletcher said.