The Federal Trade Commission's report highlights the alarming rise of Bitcoin ATM scams, with reported losses surging to $65 million in just six months of 2023.
Scammers impersonate government officials or tech support to deceive individuals, often using scare tactics to convince them to send money via BTMs, resulting in high median losses.
A significant portion of victims, especially older individuals, have been misled by fake security alerts and unsolicited phone calls, demonstrating the vulnerability of this demographic.
The report indicates that fraudsters have adapted over time, changing preferred BTM operators in response to new fraud prevention measures implemented by cryptocurrency companies.
[
Collection
]
[
|
...
]