What To Know About Cryptocurrency And Scams Ftc Consumer Information New data from the federal trade commission shows a massive increase in the amount of money consumers report losing to scammers involving bitcoin atm machines. since 2020, the amount consumers reported losing has increased nearly tenfold to over $110 million in 2023. bitcoin atms are machines that look like a traditional atm and are often found. In 2023, consumers reported $114 million in losses from scams involving btms — a nearly 900% increase over the preceding three years, the ftc said tuesday in a report. losses through june of.
Ftc Reports Significant Rise In Cryptocurrency Scams September 3, 2024. bitcoin atms (or btms) [1] have been popping up at convenience stores, gas stations, and other high traffic areas for years. [2] for some, they’re a convenient way to buy or send crypto, but for scammers they’ve become an easy way to steal. ftc consumer sentinel network data show that fraud losses at btms are skyrocketing. Related: cop intercepts $40k bitcoin atm scam by chase bank impersonator. bitcoin atm scams. the ftc warned consumers that no legitimate agency or company will ever demand payment in btc or other. Most of us use atms pretty often to withdraw cash. but bitcoin atms (or btms) are a different beast. increasingly located in convenience or grocery stores, gas stations, and other places, they’re a way to buy or send cryptocurrency. only scammers are now using btms to steal your money. a new ftc data spotlight explains how people are losing millions to fraud at btms — and how to protect. The ftc said reported losses from bitcoin atm fraud topped $110 million last year, as scammers lure victims to send them large sums through the crypto kiosks.
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