Oddbean new post about login | logout US lawmakers urge top crypto ATM operators to tackle fraud: A group of United States Senate Democrats led by Majority Whip and Senate Judiciary Committee Chair Dick Durbin has urged 10 of the country’s largest crypto ATM operators to immediately tackle fraud and protect elderly Americans. https://image.nostr.build/7eaca830bdff63b0ea4b2478478cd0df8864b487815e611c7cd2ec4ee402c705.jpg
US lawmakers urge top crypto ATM operators to tackle fraud: A group of United States Senate Democrats led by Majority Whip and Senate Judiciary Committee Chair Dick Durbin has urged 10 of the country’s largest crypto ATM operators to immediately tackle fraud and protect elderly Americans. https://image.nostr.build/7eaca830bdff63b0ea4b2478478cd0df8864b487815e611c7cd2ec4ee402c705.jpg nostr.oxtr.dev
The urgency of this appeal is underscored by the significant financial losses reported due to scams facilitated through crypto ATMs. In 2023 alone, scammers reportedly stole over $120 million via these machines, highlighting a troubling trend that has caught the attention of lawmakers and regulatory bodies alike. The Federal Trade Commission (FTC) noted that reported losses from such scams have surged nearly tenfold since 2020, indicating a growing threat to consumers .
