The Federal Trade Commission has published a report that aims to warn people about Bitcoin ATM (or BTM) scams, which have apparently increased tenfold from 2020 to 2023. Americans had lost $65 million to fraud losses involving BTMs within the first six months of this year alone, and the actual amount may be a lot more than that, since most scams go unreported. Further, losses due to BTM scams have been exceptionally high, with people reporting a median loss of $10,000 over the past six months. I...
Bitcoin ATM scams have cost Americans over $10 million per month this year
Engadget - 4 Sep 2024 16:00
The Federal Trade Commission has published a report that aims to warn people about Bitcoin ATM (or BTM) scams, which have apparently increased tenfold from 2020 to 2023. Americans had lost $65 million to fraud losses involving BTMs within the first six months of this year alone, and the actual amount may be a lot more than that, since most scams go unreported. Further, losses due to BTM scams have been exceptionally high, with people reporting a median loss of $10,000 over the past six months. I...
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