Press Release

Beware of Bitcoin ATM Scams Involving ComEd, Other Utility Companies

It has recently come to the CoinFlip Team’s attention that scammers are posing as representatives from utility companies such as ComEd. The representatives will attempt to convince their victims that they must pay their overdue utility bill with bitcoin, and then proceed to lead them to a local bitcoin ATM in order to complete the transaction.

“It’s incredibly unfortunate that con artists are taking advantage of the average consumer’s unfamiliarity with crypto; this practice gives the space a bad name, and we will do anything we can to eradicate it,” said Daniel Polotsky, CoinFlip’s CEO.

If somebody whom you do not know asks you to send them cryptocurrency, STOP AND DO NOT DO IT! Bitcoin and cryptocurrency transactions are IRREVERSIBLE, meaning that all transactions are final. A utility company will NEVER force its customers to pay them with cryptocurrency, and neither will legitimate government organizations such as the IRS. Stay safe out there!!!

–The CoinFlip Team
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