This post was originally published on this site.
Arizona Attorney General Kris Mayes is sounding the alarm on the rising threat of cryptocurrency ATM scams.
“My message to Arizonans is this: Be careful around the physical cryptocurrency ATMs we’re seeing pop up around the state,” Mayes said in press release. “If you’re being directed to use one, there’s a very very high chance you’re being scammed.”
Mayes is trying to address the schemes by urging Arizonans to report their case within 30 days using a new fraud complaint form.
“Crypto kiosks” are the latest fad among scammers due to their lax user protections and hard-to-trace transactions.
There are roughly 600 of these ATMs throughout the state. In 2024, Arizonans lost over $170 million in savings to crypto fraud.
Older adults are increasingly the primary targets, with nearly two-thirds of all cases nationwide involving adults over 60, according to an FBI report.