The Federal Commerce Fee (FTC) launched a report on the rising variety of Bitcoin ATM scams. These ATMs enable individuals to transform their money into cryptocurrencies, however have turn into a instrument for fraudsters to commit fraud. Since 2020, in line with the FTC, Bitcoin ATM fraud has elevated almost tenfold, and within the first half of 2024 alone, customers misplaced greater than $66 million to those scams.
Scammers use ways equivalent to pretend cellphone calls, messages and safety alerts to persuade those that they’re in peril and that they need to deposit money right into a Bitcoin ATM to guard them. The fraudster can then share a QR code to scan at a Bitcoin ATM, which is able to deposit money into the fraudster's pockets.
