AG Jennings announced that Bitcoin ATMs are playing a bigger role in cryptocurrency scams than ever before, according to the Delaware Department of Justice’s Investor Protection Unit. According to the Federal Trade Commission, consumers reported over $110 million in losses to scams involving Bitcoin ATM machines in 2023, a 1000% increase since 2020. “The scams start through chats, social media, emails, texts, pop-ups and phone calls from strangers,” warned AG Jennings. “Scammers create some urgent justification for you to take cash out of your bank accounts and put it into a Bitcoin ATM. Often, the scammers fabricate an investment that promises great returns with limited risk.  If it sounds too good to be true, it is.”

Delaware Attorney General warns Delawareans not to fall for Bitcoin ATM scams – State of Delaware News