We’re sharing an important story about a refund scam involving Athena Bitcoin ATMs. The scammers used a fake subscription refund scheme to trick a victim into making multiple Bitcoin transactions. These payments were sent through Athena Bitcoin ATMs and ended up being traced to Poloniex. The total amount involved was $26,000.

This scam started with a promise of a refund for a subscription. The scammers convinced the victim to send money through Bitcoin ATMs. They also asked for small amounts via gift cards. The fraudulent approach relied on creating urgency and confusion, leaving the victim feeling cornered. After receiving incomplete ATM receipts and transaction details, we analyzed the flow of funds and discovered the cashouts at Poloniex. This information is critical for investigators tracking similar schemes.

Working with CNC Intelligence, we traced the transactions and prepared a detailed investigative report.

Is this a scam? Absolutely. When someone pressures you to send money via a Bitcoin ATM or asks for gift cards, it’s a major red flag. Scammers prey on your trust and create panic to push you into quick decisions.

If you’ve seen anything like this, know that scams like this can happen to anyone. We hope this case serves as a warning to stay vigilant. If you’re unsure about a payment request, always double-check and seek professional help before acting.