TechFlow reports that on September 3, the U.S. Federal Trade Commission (FTC) released new data showing a sharp increase in consumer losses from Bitcoin ATM scams. Reported losses have nearly increased tenfold since 2020, exceeding $110 million in 2023. In the first half of 2024 alone, losses surpassed $65 million.
According to FTC data, consumers aged 60 and above are more than three times as likely to fall victim to Bitcoin ATM scams compared to younger individuals. In the first half of this year, the median loss across all age groups reached as high as $10,000. The scams primarily involve impersonation of government agencies or companies, as well as technical support fraud, with scammers exploiting urgent situations to pressure victims into depositing cash into Bitcoin ATMs.
