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El Paso Officials Address Rising Cryptocurrency Scams Targeting Seniors

KVIA•Friday, July 10, 2026 at 5:32 PM•Lauren Bly

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AI Summary

A recent FBI report highlights a troubling trend in Texas, where individuals over 60 lost over $4 billion to cryptocurrency scams, with more than $1 billion lost by Texans alone. Special agent Jeffrey Reisinger from the El Paso Cybercrime Squad identified 'pig butchering' as a prevalent scam, where scammers befriend victims online to promote fraudulent investment opportunities. In response, District 8 City Rep. Chris Canales proposed an agenda item to address the proliferation of cryptocurrency ATMs, which facilitate these scams by allowing instant cash transfers to untraceable accounts. The City Council postponed the discussion for two weeks, underscoring the urgency of tackling this public safety issue affecting vulnerable residents.

Key Details: • Over $1 billion lost to cryptocurrency scams in Texas, primarily affecting seniors. • Common scam type includes 'pig butchering', where scammers build online relationships. • City Council to discuss regulation of cryptocurrency ATMs in two weeks. • Scammers exploit the irreversible nature of cash transactions at crypto ATMs.

city-council scams seniors cryptocurrency cybercrime

People & Organizations

El Paso City CouncilEl PasoFBIChris CanalesJeffrey Reisinger

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