SIOUX FALLS, S.D. (MITCHELLNOW) Sioux Falls Police are actively partnering with local businesses to protect residents from falling victim to cryptocurrency-related scams.

In recent weeks, a local resident reportedly lost $181,000 through one such fraudulent scheme. In response, police have begun placing warning signs near cryptocurrency ATMs to alert the public and prevent further incidents.

Sergeant Jake Harris of the Department’s Fraud Division stated that it is not uncommon for victims to deposit tens of thousands of dollars into these ATMs, making recovery of the funds extremely challenging.

Sergeant Harris also emphasized that law enforcement is working directly with business owners who host crypto ATMs, providing guidance on how to identify and assist potential fraud victims.

Police officials urge residents to remain vigilant and report any suspicious activity related to cryptocurrency transactions.

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