Arizona Scam Victims Get $171K in Refunds Under New Crypto Law

Arizona's law to prevent cryptocurrency kiosk and ATM scams has already helped 35 victims receive full refunds for their transactions. Since September, when the law took effect, these individuals have received a total of $171,332 in refunds.

The Arizona Attorney General's Office is urging anyone who believes they've fallen victim to a crypto ATM scam to act quickly. Under the law, victims must report the fraud within 30 days of their transactions to be eligible for a full refund.

Crypto kiosk and ATM operators are required by law to issue full refunds, including fees, to customers who report being victims of fraud within this time frame. To receive a refund, victims must provide detailed information about their transaction, including the date, time, location, amount, and how the scam occurred.

Attorney General Kris Mayes is reminding Arizonans that knowing the signs of crypto ATM fraud can help protect them from falling victim to these scams in the first place. However, for those who have already been targeted, she encourages them to contact her office right away to initiate the refund process.