Bitcoin Scams Are Increasing. Here’s How to Stay Safe.

At Westerra, we want our members to know the warning signs so they can protect themselves, their savings, and their peace of mind.

How the Bitcoin Scam Works

These scams are designed to be convincing and intimidating, often starting with a simple phone call or pop-up message. Scammers pretend to be from Westerra or another trusted organization and claim your account is in danger. From there, they use fear and secrecy to manipulate victims into moving their money.

Scammers often reach members through:

• Fake tech support pop-ups on computers.

• Unsolicited phone calls claiming to be from Westerra or another trusted source.

They claim your account is compromised and pressure you to:

• Withdraw large amounts of cash, sometimes several times in one day.

• Hide the purpose of the withdrawal, often by saying it’s for a vehicle purchase or home improvement.

• Deposit the cash into a Bitcoin machine at a convenience store, liquor store, or bank.

To make matters worse, scammers will:

• Insist that Westerra employees can’t be trusted, and coach you on what to say at the branch.

• Use fear tactics, telling you your money will be lost if you don’t act immediately.

Warning Signs to Watch For

While every scam may look a little different, they often share common red flags. Recognizing these signs early can help you stop fraud before it causes serious harm:

• Multiple or unusually large cash withdrawals in a short period of time. If you notice this with a family member, they could be a victim.

• Being told to keep secrets from Westerra staff or not to share details about your withdrawal.

• Instructions to deposit cash into a Bitcoin or cryptocurrency ATM, a method no legitimate company or government agency will ever ask you to use. These machines could be found at convenience stores, liquor stores, or banks.

• High-pressure tactics such as “your money isn’t safe” or “you must act now.”

• Requests for large cash payments to purchase a car, home improvement, or other items. Legitimate sellers rarely accept large amounts of cash.

If you notice any of these warning signs, stop immediately and reach out directly to Westerra for help.

Protecting Yourself and Your Money

The best defense against Bitcoin scams is awareness and taking a moment to pause before acting. Scammers rely on fear, secrecy, and urgency—but you can protect yourself by following a few simple practices:

• Trust Westerra staff—If we ask questions about a withdrawal, it’s because we care about your safety, not because we doubt your choices.

• Never put cash into a Bitcoin machine—No legitimate business, government agency, or credit union will ever ask you to transfer money this way.

• Slow down and verify—If someone claims your account is compromised, hang up and call Westerra directly at the number you know.

• Talk to someone you trust—A quick check-in with a family member or a Westerra representative could save you thousands of dollars.

• Stay alert online—Be cautious of unexpected pop-ups, unsolicited calls, or anyone who tries to scare you into quick action.

Taking these steps can help you stop scammers before they succeed—and protect the money you’ve worked so hard to earn.

Be Vigilant Against Bitcoin Scams

Bitcoin scams are designed to create fear and confusion, but by knowing the warning signs and remembering to slow down, you can protect yourself from serious financial loss.

Always trust Westerra staff when we ask questions; it’s part of keeping you safe.

Never deposit cash into a Bitcoin machine under any circumstances.

Staying cautious, verifying suspicious requests, and talking openly with people you trust are the best ways to safeguard your money and your peace of mind. And remember, Westerra is always here to help you stay protected and verify unusual requests.