Beware of Bitcoin ATM Scams! If your bank calls you to use a Bitcoin ATM, you’re being scammed. Here’s what you need to know. Bitcoin ATM scams are skyrocketing. According to the FTC, scammers stole $65 million in the first half of 2024 alone. How do they do it? Scammers pose as bank or government officials, claiming your account is compromised. They instruct you to withdraw cash and deposit it into a Bitcoin ATM for safekeeping. They even call it a safety locker. But in reality, you’re scanning a QR code that sends your money straight to their crypto wallet. Victims are losing a median of $10,000 each. The FBI and other agencies are issuing warnings, and some states are imposing daily transaction limits on Bitcoin ATMs to fight this fraud. Always verify requests for money transfers
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