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Gate Square New & Returning Creator Rewards are ongoing!
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Maine regulators reach $1.9 million settlement with Bitcoin Depot as 2024 crypto ATM scam losses surge
【Crypto World】The Maine regulatory agency and cryptocurrency ATM operator Bitcoin Depot recently finalized a $1.9 million settlement. The funds will be used to compensate consumers who suffered losses due to third-party scams.
The entire investigation took two years before reaching a conclusion. Notably, this agreement not only resolves previous disputes but also officially grants Bitcoin Depot a legal operating license in Maine.
Why is this so attention-grabbing? Just look at the latest FBI data—In 2024, scam losses related to crypto ATMs in the US reached $246 million, nearly doubling from the previous year, with a growth rate of 99%. Even more concerning, 43% of the victims are seniors over 60 years old.
Scam tactics are quite routine: scammers persuade victims to exchange cash for cryptocurrency, then transfer the coins to their accounts. Once transferred, it’s almost impossible to recover. The reason this scam method remains popular is mainly because many people lack understanding of how cryptocurrencies work, and older users are more likely to be targeted.