US Federal Trade Commission: Bitcoin ATM fraud losses exceeded $65 million in H1 2024

Data released by the U.S. Federal Trade Commission (FTC) shows that consumers have experienced a sharp increase in financial losses from Bitcoin ATM scams. This amount of loss has increased nearly tenfold since 2020. The latest data released by the FTC focuses on the fact that Bitcoin ATM scams caused more than $65 million in fraud losses in the first six months of 2024 alone. What is particularly striking is that the elderly over 60 are more than three times more likely to suffer losses in these scams than younger adults. Looking at the full year range, the average loss reported by consumers in the first half of this year was as high as $10,000. (FTC)