Three Beverly residents, ages 80, 83, and 90, fell victim to a bitcoin scam in 2024, losing thousands of dollars. However, for the first time in Essex County, police were able to recover some of the lost funds. The residents were tricked into depositing cash into bitcoin ATM machines for fraudulent reasons. Luckily, they reported the incidents quickly, as the machines are often emptied daily.
Beverly Police obtained warrants to seize the bitcoin machines where the money had been deposited and worked with the Essex County District Attorney’s Office to have the funds held and returned to the residents. A court awarded $21,020 in seized funds to the police, with one resident already receiving a check.
The Beverly Police Department has seized over $150,000 that has not yet been ordered returned by courts, as Bitcoin scams continue to target residents statewide. The Federal Trade Commission warns that scammers often pretend to be from known organizations and pressure victims to act immediately. Residents concerned about scams are urged to contact the Beverly Police Department.
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