Wednesday, November 19, 2025

Putting yourself at risk for cryptocurrency fraud is just a short drive away in Dane County WIsconsin

 
Map: Bitcoin Depot
Headline:  New York Times, 11/17/2025

Cameron Fozi, Chloe Rosenberg, and Reeno Hashimoto report:
Ms. Handeland’s experience [getting scammed for $98,300] puts a spotlight on cryptocurrency A.T.M.s, which have proliferated across the country and come under scrutiny as a tool for scammers. Crypto A.T.M. operators are in at least 28,000 locations, according to data from the Treasury Department’s Financial Crimes Enforcement Network. That is more than twice the number of Wells Fargo A.T.M.s. ]\ 
In 19 transactions, Mary Handeland deposited $98,300 into crypto A.T.M.s. All of it vanished.Credit...Jamie Kelter Davis for The New York Times The kiosks, which are run by companies such as Bitcoin Depot, CoinFlip and Athena Bitcoin, help people convert cash into cryptocurrencies at physical locations. After their cash is deposited, the companies send the money to cryptocurrency accounts, which are akin to digital mailboxes for cryptocurrency. The A.T.M. operators charge fees for processing transactions. 
But the kiosks have become a hub for financial crimes, according to law enforcement. Last year, the F.B.I.’s Internet Crime Complaint Center tallied nearly 11,000 complaints about the machines that totaled $246.7 million in losses.  [emphasis added]

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