ATM

Red and Blue States Unite: New Crypto ATM Regulations Sparked by Fraud Concerns

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In Richmond, Virginia, lawmakers from both major political parties are taking proactive steps to regulate cryptocurrency ATM services amid rising concerns over potential fraud and misuse. Recent legislative measures aim to bolster consumer protection and enhance oversight in the rapidly evolving digital currency landscape. As the use of cryptocurrency continues to gain traction across the United States, Virginia is not alone in its initiative. Similar regulations are emerging in various states, reflecting a bipartisan recognition of the risks associated with these machines. The calls for stricter regulations have intensified, spurred by incidents of scams targeting … Read more

Inmate Orchestrates Elaborate Bitcoin ATM Scam from Behind Bars, Duping Florida Woman Out of $12,000

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Sarasota, Fla. — A Florida woman found herself out over $12,000 after falling victim to a sophisticated scam involving a fake sheriff’s deputy and a bitcoin ATM, federal authorities reported. The deceptive call, made to a Sarasota resident by an individual claiming to be a deputy, alleged that she had an outstanding warrant due to missed jury duty, pushing her to settle the matter through cryptocurrency. The orchestrators of this scam were revealed to be Anthony Sanders, a 28-year-old inmate from Georgia, and his accomplice, Marlita Andrews, also 28. According to federal prosecutors, Sanders conducted … Read more

New Court Decision Limits Recovery Options for Bitcoin ATM Scam Victims

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Raleigh, N.C. — A recent court ruling in Wake County has escalated concerns regarding the safety of Bitcoin transactions, particularly in handling the aftermath of financial scams. This development stems from a case where a local woman, who fell victim to a scam, was brinked into transferring $15,000 into a Bitcoin digital wallet after being misled that her bank account was compromised. Pauline Miller of Raleigh described the incident as a convoluted hoax that preyed on her fears of losing her savings. In a desperate move to safeguard her funds, Miller deposited the advised amount … Read more