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International Business Times UK

Annalyn Zoglmann

Bitcoin ATM Scams Sweep US: Millions Lost as Pensioners Duped by Fraudsters

Bitcoin United States Ashley Miller Police Athena Brian Schwalb The United States

Regulators say fraudsters are exploiting crypto ATM kiosks to steal thousands of dollars from unsuspecting users. (Credit: YouTube Screenshot / GENERAL BYTES)

KEY POINTS

Prosecutors allege Bitcoin ATMs are increasingly exploited by scammers, with one operator accused of charging up to 26% fees.
Authorities warn seniors are being disproportionately targeted by crypto ATM fraudsters.
Regulators say no legitimate bank or government agency will ever demand payment via Bitcoin ATM.

A wave of Bitcoin ATM scams sweeping the United States has left pensioners penniless and authorities scrambling to warn the public.

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