ATM Coin seems to be at the center of a growing issue due to the increasing prevalence of
Bitcoin ATM scams. The reports are increasingly affecting older adults, with losses amounting to $55 million in 2024 and $110 million in 2023. The
FTC has reported a tenfold increase in the number of scams involving these ATMs. Areas such as the
US, the
UK, and
Australia have recorded a growth of crypto ATMs, despite the growing challenges. These ATMs have been involved in several illegal activities leading to significant losses and ATM networks' closure.
CoinFlip and
Bitcoin Depot are leading in their expansion to new markets, like Mexico, despite the risks presented. Yet, legislative bodies are stepping up their regulation efforts, as seen in
California and
Germany where daily transaction limits and seizures of unauthorized crypto ATMs have occurred. There are concerns, however, that the growing prevalence of these ATMS, especially in minority communities, can lead to higher scam incident rates. As the controversy surrounds these ATMs, companies like
NCR Atleos are adding new features, such as Bitcoin cashouts, to enhance their appeal.
ATM Coin News Analytics from Tue, 02 Jan 2024 08:00:00 GMT to Wed, 09 Oct 2024 09:00:00 GMT -
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- Innovation 5
- Information 7
- Rumor -8
