FTC Reports Surge In Bitcoin ATM Scams

According to Odaily, the U.S. Federal Trade Commission (FTC) has released data indicating a significant increase in financial losses due to Bitcoin ATM scams. Since 2020, the amount of money lost in these scams has surged nearly tenfold. The latest data from the FTC highlights that in the first six months of 2024 alone, Bitcoin ATM scams have resulted in over $65 million in fraudulent losses. Notably, individuals aged 60 and above are more than three times as likely to be affected by these scams compared to younger adults. On average, consumers reported a loss of $10,000 in the first half of this year.