2023 FTC report: Bitcoin ATM fraud losses surge from $12M in 2020 to $114M, targeting older adults with impersonation scams.

The FTC has reported a dramatic rise in Bitcoin ATM fraud, with losses surging from $12 million in 2020 to $114 million in 2023. Scammers, often targeting older adults, impersonate government and tech officials to trick victims into withdrawing cash and depositing it into Bitcoin ATMs, transferring funds to their wallets. The FTC urges vigilance against unsolicited communications and recommends verifying any suspicious requests to protect against these scams.

September 03, 2024
26 Articles

Further Reading