"Brenda Smith didn't know what a cryptocurrency ATM was before she was directed to deposit more than $12,000 cash into two of the machines last year as part of an elaborate cyber scam. The 76-year-old Calgary retiree suffered a stroke a few months before that, which she says was affecting her cognitively. "They're so convincing, and unfortunately I was vulnerable," Smith said."
"The first-ever crypto ATM was installed in a small Vancouver coffee shop back in 2013. At the time, the machine was hailed as a pioneer for innovation by offering a fast, accessible way to buy crypto. A dozen years later there are about 3,600 crypto ATMs across the country and more than 39,000 around the world and authorities have mounting concerns about how the machines are being used and by whom."
A 76-year-old Calgary retiree was coached to deposit more than $12,000 into two cryptocurrency ATMs as part of an elaborate cyber scam while recovering from a stroke that affected her cognition. Crypto ATMs allow customers to deposit cash, convert it into cryptocurrency such as Bitcoin, and then send it to a virtual wallet anywhere in the world. The first machine appeared in 2013 and the network has grown to thousands globally, including about 3,600 in Canada. Federal reports and authorities express mounting concerns that crypto ATMs are a primary conduit for fraud against Canadians, especially vulnerable individuals.
Read at www.cbc.ca
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