Crypto TM machines and scams: Calls lead to $10,000 lossesBetter Business Bureau Check all BBB Scambusters at joeknowsbetter.com Bitcoin ATM machines or kiosks are popping up at more and more convenience stores and gas station s. The ATMs are an easy way to buy and sell Crypto.But scammers have found theyre also a way to take thousands from unsuspecting consumers.The Federal Trade Commission says during the first half of 2024, the average loss people reported was $10,000.Much of the money is taken through imposter scams. Scammers call and pretend to be a government official with a fake citation or something you owe. They could pretend to be your bank with a security issue that requires you to take money out of your account and deposit it in a new, clean account. Scammers could use the old tech scam and notify you that theres a virus on your computer that only they can solve if you call them.In most cases, they lead you to a nearby Bitcoin ATM, tell you to pay the fine or deposit the money there. That money ends up in the scammer's account.Bitcoin ATMs allow speedy, anonymous cash-to-crypto transactions that are irreversible and are very hard to trace. There have been few, if any, regulations to stop it.States like Arizona and California are changing that.Arizona now requires the ATMs to have warning signs. Daily deposits are capped at $2000 for new users. And if youve been scammed and report it within 30 days, you can get a refund.Check out the Arizona Attorney Generals crypto ATM/kiosk regulations.https://www.azag.gov/consumer/topics/cryptoCalifornia requires warning signs and limits all daily deposits to $1000.Check all of the California Attorney Generals crypto ATM/kiosk regulations.https://dfpi.ca.gov/regulated-industries/digital-financial-assets/digital-financial-assets-law-information-for-kiosk-operators/#:~:text=Effective%20January%201%2C%202025,prior%20to%20completing%20a%20transaction.If youre told to withdraw cash and deposit it in one of these ATMs, its a scam. No legitimate person will ask you to pay a debt or fix a problem by putting money in these ATMs.The Better Business Bureau always advises never responding to texts, computer pop-ups, or calls. If youre told theres a problem with an account, like your bank, only go into your account to check and communicate. Also, dont answer any calls that arent in your contacts. Important people will leave messages while scammers will not.Check out all the latest scams and tell us what youre seeing through the BBB Scam Tracker. https://www.bbb.org/scamtracker/lookupscam ...read more read less