The Federal Trade Commission (FTC) revealed a report about rising fraud at Bitcoin ATMs. These ATMs permit individuals to show their money into crypto, however they’ve turn into a software for scammers to perpetrate fraud. Since 2020, the FTC says, fraud at Bitcoin ATMs has ballooned practically tenfold, and simply within the first half of 2024, shoppers have misplaced greater than $66 million to those scams.
Scammers use ways like pretend cellphone calls, messages and safety alerts to persuade those that they’re in peril, and that they need to deposit money into a Bitcoin ATM to guard it. Then, the scammer might share a QR code to scan on the Bitcoin ATM, which deposits the money into the scammer’s pockets.