According to ABC News, the FBI states that by 2025, American citizens have lost over $333 million due to Bitcoin ATM-related scams, a significant increase compared to previous years. Bitcoin ATMs allow users to quickly convert cash into any digital wallet worldwide, and once the transaction is completed, it is almost impossible to recover, making them a common tool for scammers. Previously, Washington D.C. prosecutors had sued the major Bitcoin ATM operator Athena Bitcoin, accusing it of charging high hidden fees and engaging in fraudulent transactions, which the company denied. As cases increase, many U.S. states have pushed for stricter regulation, with some areas even considering restrictions or bans on such devices.
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According to ABC News, the FBI states that by 2025, American citizens have lost over $333 million due to Bitcoin ATM-related scams, a significant increase compared to previous years. Bitcoin ATMs allow users to quickly convert cash into any digital wallet worldwide, and once the transaction is completed, it is almost impossible to recover, making them a common tool for scammers. Previously, Washington D.C. prosecutors had sued the major Bitcoin ATM operator Athena Bitcoin, accusing it of charging high hidden fees and engaging in fraudulent transactions, which the company denied. As cases increase, many U.S. states have pushed for stricter regulation, with some areas even considering restrictions or bans on such devices.