US Federal Trade Commission: Bitcoin ATM fraud losses have increased nearly tenfold since 2020

Odaily News New data released by the U.S. Federal Trade Commission (FTC) shows that consumers are experiencing a sharp increase in financial losses from Bitcoin automated teller machine (ATM) scams. Since 2020, this amount of loss has increased nearly tenfold to more than $110 million in 2023. The FTC's latest data focus points out 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 seniors over the age of 60 are more than three times more likely to suffer losses from these scams than younger adults. Looking at the full year, the average loss reported by consumers in the first half of this year was as high as $10,000. (FTC)