Localcoin Takes Aim at Crypto ATM Scams with Fraud Information Hub
TORONTO, Oct. 9, 2025 /CNW/ - Localcoin, Canada's largest Bitcoin ATM operator, launches Fraud Information Hub to educate users, train store hosts, and prevent losses at the machine level.
The hub explains real-world scam scripts and provides printable signage for host retailers. Localcoin also has in-machine warnings and a live 24/7 support line to stop victims before funds leave their hands.
"Crypto ATMs aren't the cause," says Tristan, CEO of Localcoin, "we are a service just like other payment tools. Localcoin has multiple checkpoints before a customer inserts their money, including physical signages and forensic blockchain tools to block suspicious transactions before cash is inserted."
"Scammers chase opportunity, not technology. While they exploit channels like e- transfer, wire transfers or gift cards, crypto ATMs add a physical layer of verification backed by blockchain analytics and real support."
Protecting Canadians from Common Scams
Localcoin has prevented numerous customers from being targeted from scams that misuse Bitcoin purchases, fake government calls demanding Bitcoin payments, romance scams exploiting emotional connections, and more. Localcoin reminds the public that no legitimate organization--including the CRA, RCMP, or any government agency will ever request Bitcoin payments. All such requests are scams.
Localcoin's Proactive Measures to Safeguard Users
Localcoin has a comprehensive fraud prevention strategy designed to safeguard customers at every stage of their transaction journey. Clear and visible warning signs are placed on and around each Bitcoin ATM, accompanied by on-screen alerts reminding users to verify the legitimacy of their transactions before proceeding. Each customer must also acknowledge and agree to the terms and conditions emphasizing that cryptocurrency transactions are irreversible, ensuring full awareness of their financial responsibility.
Beyond its physical network, Localcoin actively promotes fraud awareness through educational campaigns on its website, help centre, and customer support channels. These resources empower users to stay informed and cautious when navigating the crypto landscape. In addition, Localcoin maintains dedicated reporting channels through its Fraud Information Hub, allowing victims to report fraudulent Bitcoin addresses. Once reported, these addresses are blacklisted and investigated internally to support law enforcement and prevent further misuse.
Ensuring Users Stay Safe
Localcoin encourages all users to remain vigilant and to never send cryptocurrency to individuals or organizations they do not personally know or trust. Urgent payment requests, especially those claiming to be from government agencies or employers, are clear red flags. Users are urged to report any suspicious activity immediately to their local police and to the Canadian Anti-Fraud Centre (CAFC) at 1-888-495-8501.
About Localcoin
Founded in 2017, Localcoin operates the largest Bitcoin ATM network in Canada, offering convenient access to digital currencies through over 1,000 locations nationwide. Localcoin's mission is to empower Canadians to participate in the digital economy safely, securely, and confidently.
SOURCE Localcoin
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