New Hampshire Warns Residents of Cryptocurrency ATM Scam Surge
New Hampshire officials have sounded the alarm about an increase in cryptocurrency ATM scams. According to authorities, scammers are impersonating government officials, law enforcement officers, financial institutions, and technology support representatives to convince victims to deposit cash into cryptocurrency machines.
Once funds are transferred, the transactions are often irreversible, leaving victims with little chance of recovering their money. To combat this issue, a new state law in New Hampshire will include safeguards such as a $2,000 daily transaction limit, stronger oversight requirements, and refund protections for fraud victims who report scams within 14 days.
Some communities in Massachusetts have already taken action by removing cryptocurrency kiosks, including Haverhill, Revere, Sharon, and Lakeville. The Massachusetts Senate has also voted to ban crypto kiosks, although the legislation has not yet been passed.