Secretary of State Issues Warning: Beware of Rising Bitcoin Scams in Mississippi

Secretary of State Warns of Increasing Bitcoin Scams

Published 2:00 PM Monday, December 22, 2025

In a pressing advisory, Secretary of State Michael Watson is urging Mississippians to stay vigilant against a rising tide of scams linked to Bitcoin ATM machines. As the popularity of cryptocurrency continues to soar, so too does the risk of fraudulent schemes targeting unsuspecting consumers.

“Our office has continued to see an uptick in securities-related scams, and we encourage Mississippians to exercise caution when investing hard-earned dollars,” Watson stated. “With the ever-changing landscape of technology, including cryptocurrency and Bitcoin, we must remain vigilant.”

Bitcoin ATMs, or Crypto ATMs, have become increasingly common in convenience stores, malls, and other high-traffic areas. These electronic kiosks allow users to buy cryptocurrencies using cash or debit cards. However, while they offer convenient access to digital currencies, they are also being exploited by scammers to perpetrate fraud.

Consumers deposit money into these ATMs, which charge a fee, convert the funds into cryptocurrency, and transfer them to an electronic wallet. Unfortunately, the anonymity and speed of these transactions make them attractive to scammers looking to exploit unsuspecting victims.

To combat this growing threat, Watson has outlined several proactive measures for consumers:

• Be Skeptical of Unexpected Communications: Never click on links or respond to unexpected calls, messages, or pop-ups. If you suspect a communication might be legitimate, contact the company or agency directly through official channels.

• Take Your Time: Scammers often pressure victims into making hasty decisions. Before acting, consult with someone you trust or reach out to the Secretary of State’s office for guidance.

• Avoid Cash Withdrawals: Never withdraw cash in response to unexpected requests. Legitimate sources will never ask for such actions.

• Beware of Secrecy: If someone insists that information is confidential or cannot be shared, consider it a red flag. Scammers often use this tactic to isolate individuals from trusted resources.

• Verify Financial Advisors: If approached by someone claiming to be a financial broker or advisor, always verify their credentials by contacting the Secretary of State’s Office or using the online search tool.

For further information or to report suspicious activity, Mississippians can contact the Securities Division at 601-359-1334 or email Securities.CustomerService@sos.ms.gov.

As the cryptocurrency landscape evolves, Secretary Watson’s message is clear: stay informed, stay cautious, and protect your investments.