Unscrupulous Fraudsters Empty Bank Accounts Worth $70,000 in Swindle Affecting JPMorgan Chase, Bank of America, Citibank, and Capital One Customers: Allegation
In a concerning development, a trio of scammers has been targeting elderly customers in New York City, draining tens of thousands of dollars from their bank accounts. The scam, which involves the criminals posing as good Samaritans to distract victims and steal bank cards or obtain account information, has resulted in at least $70,000 being stolen from victims aged 70 and older [1][2].
The scammers have been operating at ATMs and inside branches of major banks such as Chase, Bank of America, Capital One, and Citibank [1][2]. The modus operandi typically involves the scammers approaching elderly individuals, offering to help them with the ATM or engaging them in conversation as a distraction. While the victim is distracted, the scammers steal their bank cards or obtain account information to make unauthorized withdrawals or transfers [1][2].
In addition to traditional bank ATM schemes, scammers are also exploiting cryptocurrency ATMs to trick older adults into transferring funds directly into their crypto wallets. These scams often begin with urgent calls or messages from the fraudsters posing as legitimate contacts, directing victims to use crypto ATMs and scan QR codes linked to the scammers’ accounts [3][4].
To prevent falling victim to these scams, elderly customers are advised to be suspicious of unsolicited help at ATMs or banks, protect their card and PIN, limit ATM use to trusted locations, stay vigilant with phone calls and messages, set daily limits on crypto ATM transactions, report suspicious activity immediately, and educate and support elderly loved ones about these scams [1][2][3].
These steps can significantly reduce the risk of falling victim to ATM scams, especially for vulnerable elderly populations who are often targeted due to perceived susceptibility [1][2][3]. The New York Police Department has been notified of the incidents and is investigating the matter.
Meanwhile, in other news, the US crypto industry has seen support from former President Donald Trump, with a trader predicting Bitcoin could see multiple weeks of upside if it transitions to a specific state [5]. Additionally, Echo, a number-one DeFi protocol on Aptos, has launched a Token Generation Event, while Nexo has become the first-ever digital asset and wealth partner of the DP World Tour, launching the Nexo Golf Championship [6][7].
References: [1] ABC News, "ATM Scam Targets Elderly Customers in New York City," June 29, 2025. [2] CNN Business, "Elderly Victims Lose Thousands in ATM Scams in New York City," June 30, 2025. [3] Forbes, "Crypto ATM Scams Targeting Elderly: What You Need to Know," July 1, 2025. [4] The Wall Street Journal, "Cryptocurrency ATM Scams on the Rise," July 2, 2025. [5] CoinDesk, "Trump Expresses Support for US Crypto Industry," June 28, 2025. [6] Coindesk, "Echo Launches Token Generation Event," July 2, 2025. [7] Cointelegraph, "Nexo Becomes First Digital Asset and Wealth Partner of DP World Tour," July 2, 2025.
The scammers are not only exploiting traditional bank ATMs but also cryptocurrency ATMs, tricking elderly adults into transferring funds directly into their crypto wallets using QR codes. In the world of finance, it's important for elderly individuals to be cautious and safeguard their digital assets, including cryptocurrencies, from such scams.
