Why don’t scammers ever become chefs? Because they always cook up something shady — and this time, it’s costing business owners serious dough
In this publication, we're uncovering a slick scam targeting local businesses — and it’s got a modern twist: cryptocurrency. Let’s dive right in.
Scammers are calling business owners, claiming to be from well-known companies. They say a shipment hasn’t been paid for and demand the victim settle the “debt” by sending money through a Bitcoin ATM. Once the money’s gone — so is any hope of getting it back.
How It Works:
- A scammer calls a business, posing as a representative from a legitimate company or franchise (like a supplier or corporate office).
- They claim that a delivery or shipment is being withheld due to an unpaid balance.
- The scammer pressures the owner to fix the issue urgently — usually by depositing money into a Bitcoin ATM.
- Once the funds are sent via cryptocurrency, they're untraceable and unrecoverable.
Who’s Targeted:
Small to mid-sized business owners, especially those managing local franchises or independent shops. The scam tends to hit regions with tight-knit business communities — like Laredo, Texas — where impersonating a known brand seems more credible.
Real-Life Example:
The Laredo Police Department recently issued a warning after several local businesses were contacted by scammers using this exact playbook. No names have been disclosed, but officials say the fraudsters are getting bolder and more convincing.
Why You Should Care:
These scammers are exploiting trust and urgency — two things business owners rely on daily. Fall for the con, and you could lose hundreds or even thousands of dollars in minutes. Worse? Bitcoin transfers are irreversible, meaning there’s zero chance of recovery once the scam is complete. For a small business, that kind of loss can seriously hurt operations, cash flow, or even payroll.
Actionable Steps to Protect Yourself:
- Verify before paying: Never make payments based on a phone call alone. Contact your supplier directly using verified contact information.
- Pause when pressured: Urgency is a red flag. Scammers thrive on panic.
- Educate your staff: Make sure employees know not to respond to calls demanding payments, especially in cryptocurrency.
- Know the process: Legitimate businesses don’t ask for payment through Bitcoin ATMs. If someone does — it’s a scam.
- Report it: If you get a suspicious call, report it immediately to local police or your local FBI field office.
Quick Tips & Updates
Quick Tip #1: Did you know? Bitcoin ATMs are often used in scams because transactions are anonymous and can’t be reversed. Always treat Bitcoin payment requests as a red flag.
Pro Tip: If a “vendor” insists on crypto, hang up. Real companies use traceable, regulated payment methods.
Update: Laredo Police continue to investigate and are urging business owners to report any suspicious calls. This scam has been spotted in other cities too, so don’t assume it's a one-off.
Stay safe, stay informed.
Keywords & Definitions
- Bitcoin ATM: A physical kiosk where people can buy or send Bitcoin and other cryptocurrencies. Used by scammers for anonymous, irreversible payments.
- Impersonation Scam: A type of fraud where the scammer pretends to be someone trustworthy (e.g., company rep, law enforcement) to trick victims into sending money or information.
- Urgency Tactic: A psychological trick used by scammers to pressure victims into acting quickly — usually to avoid thinking critically.
- Cryptocurrency Scam: Any fraudulent scheme that uses crypto for payment or deception. Crypto is untraceable and usually irreversible, making it attractive to scammers.
- Business Fraud Alert: A warning issued to business owners to be aware of current scams or fraud tactics targeting the commercial sector.
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