Cryptocurrency Fraud
Summary
Scammers are using local Bitcoin ATMs to trick residents into sending money that can't be recovered. The city is looking at banning these machines to protect people.
At a glance
- Total mentions
- 1
- Last 30 days
- 0
Last discussed Aug 4, 2026.
Impact analysis
Residents have lost nearly $2 million to these scams since 2021.
Residents will be protected from high-risk, irreversible financial transactions.
Local businesses hosting the machines will lose a small amount of monthly revenue.
Mentions & discussions (2)
City Council Work Session — 2026-08-04
Scammers are using local Bitcoin ATMs to trick residents into sending money that can't be recovered. The city is looking at banning these machines to protect people.
Banning Bitcoin $2 million lost by Cottonwood Heights residents in cryptocurrency scams
Banning Bitcoin $2 million lost by Cottonwood Heights residents in cryptocurrency scams
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