crypto atm scams surge as criminals exploit confusion

[ed]

Crypto ATM scams are exploding across the US, with the FBI receiving nearly 11,000 complaints last year totaling about $250 million in losses — and that number may double this year.
Scammers pose as bank staff, tech support, law enforcement, even celebrities, then pressure victims into urgently depositing cash into crypto ATMs.
Once converted to crypto, funds are quickly moved to anonymous wallets overseas, making recovery nearly impossible.
Authorities call crypto ATMs “perfect instruments for scams,” as victims sometimes lose their entire life savings in minutes.

[Abdul Khan]

Confusion and low awareness create the perfect environment for ATM scams. ️

[Nahid Hossen]

Education is the strongest defense — most victims didn’t even know the risk. ️