FBI data shows cryptocurrency ATM scams exploding in United States

Data from the FBI shows a new way of scamming people is exploding across the country.The common denominator in the scams is a cryptocurrency ATM. You might not have heard of them, but the small kiosks are becoming increasingly more common in the Kansas City metro.”They’re incredibly common, and it’s because these machines are now everywhere,” said Nick Gicinto, the Chief Information Security Officer at William Jewell College.Users feed cash into a cryptocurrency ATM, the ATM converts the bills into a crypto of your choice, and then the digital currency can go anywhere in the world.”Wallets for cryptocurrency are anonymous,” Gicinto said. “You don’t necessarily know who owns the wallet.”Gicinto said this is what makes these machines so appealing to criminals.The FBI reports it got nearly 11,000 complaints about scams involving these machines in 2024. That’s a 99% increase over 2023. The FBI data shows all of those crimes added…

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