Bitcoin ATM Scams | 10-Fold Rise Since 2020
Bitcoin ATM scams have surged, with over $110M lost in 2023. Reports indicate older adults are 3 times more likely to be targeted.| Bitcoin News
WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Notice urging financial institutions to be vigilant in identifying and reporting suspicious activity involving convertible virtual currency (CVC) kiosks. While CVC kiosks can be a simple and convenient way for consumers to access CVC, they are also exploited by illicit actors, including scammers.| FinCEN.gov
Bitcoin ATM scams have surged, with over $110M lost in 2023. Reports indicate older adults are 3 times more likely to be targeted.| Bitcoin News
Experts suspect the new Crypto ATM Fraud Prevention Act, introduced by Senator Dick Durbin has spooked bitcoin ATM operators.| Bitcoin News
