Tasmania Police Warns Cryptocurrency ATM Users After $1.5 Million Scam Losses
Tasmanian cryptocurrency ATM users are being warned to remain vigilant after an investigation revealed significant financial losses suffered by scam victims. Over a three-month period earlier this year, Tasmanian victims lost more than $1.5 million, with funds deposited into cryptocurrency ATMs across the state.
The investigation forms part of a national crackdown on the criminal use of cryptocurrency ATMs, which are increasingly being exploited by offenders targeting victims of romance and investment scams.
Detective Sergeant Paul Turner warned that if someone you've met online or spoken to over the phone asks you to deposit cash into a cryptocurrency ATM, it's likely you're being targeted by a scam. 'Victims are being manipulated, intimidated, and pressured into sending money to scammers involved in fake investment opportunities and online romance scams.'
The number of cryptocurrency ATMs in Tasmania has increased significantly in recent years, growing from just one machine in 2021 to 28 statewide.