Americans Lose $114 Million to Bitcoin ATM Scams: Rise in Unregulated ATMs Fuels Fraud

A recent Federal Trade Commission report reveals the alarming rise of Bitcoin ATM scams affecting American consumers. Over the past three years, victims have lost an astonishing $114 million through these unregulated devices. This surge can be attributed to the growing number of unregulated Bitcoin ATMs in the US, which now surpasses 30,000 in total. Many criminals are capitalizing on this anonymity and rapid transaction speed for their illegal activities.