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Bitcoin ATM fraud surges, surpassing $120 million
According to a recent report released by the U.S. Federal Trade Commission (FTC), Bitcoin ATM (automatic teller machine) fraud cases continue to soar. From 2020 to 2023, it increased nearly 10 times. In 2023, the United States lost more than $120 million due to cryptocurrency ATM fraud alone. Taking the picture as an example, it exceeded $65 million in the first half of 2024, but this may only be a small part.
The number of Bitcoin ATMs in the United States is increasing day by day. The machines are set up in convenience stores, gas stations and areas with high traffic. At the same time, the threat of cybercrime is also growing. Bitcoin ATMs are similar to traditional cash ATMs. Users need to set a password and are charged a fee. As the value of cryptocurrencies has risen sharply in recent years, Bitcoin ATMs are more likely to become prey for criminals.
The number of Bitcoin ATMs in the United States is increasing day by day. The machines are set up in convenience stores, gas stations and areas with high traffic. At the same time, the threat of cybercrime is also growing. Bitcoin ATMs are similar to traditional cash ATMs. Users need to set a password and are charged a fee. As the value of cryptocurrencies has risen sharply in recent years, Bitcoin ATMs are more likely to become prey for criminals.
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