Bitcoin Well has released an update on their ATM program and announced a debt settlement. They plan on raising
$100 million to increase their Bitcoin holdings. However, the crypto ATM industry has been under scrutiny due to scams and frauds. This includes Bitcoin ATMs being used in phone scams with warnings issued by the police in Cheyenne and Forrest County, Georgia set to regulate these ATMs.
ATM operator Athena Bitcoin is facing multiple lawsuits, accused of exploiting scam victims and stealing copyrighted source code.
Attorney General Schwalb is suing them for financially exploiting district residents and enabling scams especially targeted at seniors. Even in North Carolina, authorities busted an alleged
Bitcoin ATM scam.
Americans are losing millions through
Bitcoin ATM frauds, prompting many states like Arizona to put in regulations to combat such scams. Evansville City Council approved a new rule to take on Bitcoin ATM scams and the US Senate is moving to rein in crypto ATM scams. However, CoinFlip, a Bitcoin ATM operator, is exploring a
potential $1 billion sale.
Crypto ATMs have also been seized in the UK and banned in New Zealand due to financial crime concerns. Illinois Governor has signed laws to regulate crypto, bitcoin ATMs, while Michigan and Arizona have also passed bills to regulate them. Still, Bitcoin ATMs are spreading, with some now found in Costco stores.
ATM Coin News Analytics from Mon, 27 Jan 2025 08:00:00 GMT to Wed, 01 Oct 2025 13:00:07 GMT -
Rating -4
- Innovation -3
- Information 5
- Rumor -7
