safety
Crypto scams rise in Texas, what you can do to protect yourself
By Lauren Bly at KVIA ABC-7
· July 10, 2026
· 2 min read
EL PASO, Texas (KVIA)-- According to a report from the FBI, people aged older than 60 years lost more than $4 billion from cryptocurrency scams. In Texas alone, Texans lost more than $1 billion.
ABC-7 spoke with special agent Jeffrey Reisinger from the FBI El Paso Cybercrime Squad. He said the...
Key takeaway In Texas alone, Texans lost more than $1 billion.
Why this matters in The El Paso
The rise of cryptocurrency scams in Texas, with over $1 billion lost by Texans, has significant implications for El Paso's senior community. As the FBI's Jeffrey Reisinger notes, the "pig butchering" scam is particularly prevalent, targeting vulnerable individuals who are befriended online and convinced to invest in cryptocurrency opportunities. District 8 City Rep. Chris Canales' effort to address the issue of cryptocurrency ATMs, which have become a tool for scammers, is a crucial step in protecting residents. The fact that these machines facilitate instant and permanent transactions, with no way to cancel or recover losses, makes them a serious public safety concern. As the city council considers Canales' proposal, it is crucial that they prioritize the protection of El Paso's senior citizens and vulnerable residents, who are disproportionately affected by these scams. The council's decision will have a direct impact on the financial security of these individuals.
About this story
Original reporting by KVIA ABC-7 . The El Paso surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KVIA ABC-7 . Have a tip or correction? Contact our newsroom .
Category: safety ·
Published: July 10, 2026 ·
Source: KVIA ABC-7 ·
Reading time: 2 min
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Frequently asked about this story
What is this story about? EL PASO, Texas (KVIA)-- According to a report from the FBI, people aged older than 60 years lost more than $4 billion from cryptocurrency scams. In Texas alone, Texans lost more than $1 billion.
ABC-7 spoke with special agent Jeffrey Reisinger from the FBI El Paso Cybercrime Squad. He said the...
When was this published? This article was first published on July 10, 2026 by KVIA ABC-7 and curated for The El Paso readers.
Who reported this story? This story was reported by Lauren Bly at KVIA ABC-7. To learn more about how The El Paso selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more safety coverage from The El Paso, or browse our daily briefing and topic hubs .
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