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Scammers Increasingly Use Crypto ATMs and Kiosks in Their Schemes
Over 2,000 complaints involving the use of cryptocurrency ATMs and kiosks were filed in 2023.
Scammers are increasingly incorporating crypto ATMs and kiosks into their fraudulent schemes, exploiting these digital currency exchange points to swindle unsuspecting victims.
In a recent case, a woman from Troy, Michigan, was directed to a Bitcoin kiosk at a local gas station after falling victim to a multifaceted scam.
The scam began with an email that asked for a refund for an alleged accidental overpayment of $3,966.
Victims Instructed to Use Crypto ATMs
The woman, under the impression that she owed money, was instructed to withdraw cash and deposit it into a Bitcoin ATM.
Despite complying with the scammerâs demands, she was later told that not all the money was received and that she still owed $1,000.
To settle this fabricated debt, she was instructed to purchase two $500 gift cards and read the serial numbers to the scammers over the phone. In total, the woman lost $4,966.
Once the cash is deposited into a cryptocurrency ATM or kiosk, it is immediately converted into digital currency, allowing the scammer to transfer the funds to other accounts, often located overseas. #Laraxenteam #LaraxenFamily #laraxen
