Crypto
US Crypto ATM Scam Losses Surged 58% to $388 Million Last Year
The US saw a significant surge in losses due to crypto ATM scams last year. According to data from the Federal Bureau of Investigation, reported losses exceeded $388 million, a 58% increase from the previous year.
The Commodity Futures Trading Commission (CFTC) has warned consumers about scammers using digital-asset ATMs, gift cards, unverified applications, and courier services to induce victims to transfer funds. The CFTC advises consumers to stop transactions immediately if they receive such requests and verify the information through a separate channel.
No government agency, legitimate financial institution, or trusted business will ask for money through these methods, the CFTC emphasized.