NH Law Cuts Scammers' Access to Cryptocurrency ATMs
A new law in New Hampshire is cracking down on cryptocurrency ATM scams that have been targeting residents, including Nashua resident Ken Heideman. In 2022, Heideman was scammed out of $30,000 after a phone scammer convinced him to withdraw cash and deposit it into a cryptocurrency kiosk.
The new law, which went into effect on December 16th, caps cryptocurrency kiosk transactions at $2,000 per customer per day. It also requires a customer's first transaction to be held for at least 48 hours, during which the customer can cancel the transaction and receive a refund.
Kiosks will be required to display fraud warnings and ask customers screening questions, including whether another person is coaching them through the transaction. If the answers indicate a potential scam, the transaction must be blocked.