The FBI has documented a rise in cryptocurrency ATM fraud, as stated in the agency’s alert.
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According to law enforcement, scammers identify victims online and, under various pretexts, demand that funds be transferred via a cryptocurrency ATM using a QR code linked to their wallet.
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After the transaction is completed, the scammer often immediately transfers the funds to an overseas account.
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\”The decentralized nature of cryptocurrencies makes it harder to recover funds,\” the FBI said.
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The agency urged the public not to send money to strangers and not to use cryptocurrency ATMs that advertise anonymity.
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\”These cryptocurrency ATMs may not comply with U.S. federal regulations and may facilitate money laundering,\” the bureau said.
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In late October, the largest American retailer Walmart offered customers the ability to buy bitcoin in several dozen retail locations across the United States.
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