Headline: CNN, 10/14/2025
A CNN investigation, which included a review of more than 700 criminal cases and complaints, has found that crypto ATM companies make money by often marking up the price of cryptocurrency by 20% to 30% or more on transactions, including the illicit ones. Despite public claims, they often fail to refund money to victims and aggressively fight police to claw back scam money seized from machines.
The companies have also largely failed to adopt measures that could stifle scammers, such as strict transaction limits, and have heavily lobbied state legislatures to neuter laws that would force them to better protect victims. Some states have passed or proposed laws that closely match model legislation with fewer protections pushed by industry lobbyists.
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