Fraudsters Are Increasingly Using Crypto ATMs

Bad actors are using cryptocurrency ATMs to cash out stolen funds.

According to a study from the FBI, the scale of the criminal use of such devices has recently increased. According to the document, hackers extort cryptocurrencies from their victims, which can then be cashed out through an extensive network of crypto ATMs.

Swindlers who create financial pyramids also rely on ATMs to withdraw the stolen money. The FBI has warned US investors about the risks of participating in any schemes or suspicious projects, the organizers of which attract funds from citizens, including in digital currencies.

Moreover, law enforcement officers have noticed criminals have started to more often accept funds from their victims through crypto ATMs than through bank transfers.