Due to the older population being involved in these Scams for the most part, unfortunately there is little that could be done.  Even if you put up a big sign next to the ATM warning them of these Scams, how many would read it?

Though I would argue there better is a sign than not be.  ATMs could in fact have even a warning message before usage so you first have to agree that you acknowledge the existence of such Scams.  Other than that, I doubt there is much that can be done.  These Scams are typically manipulating the elderly into believing that spending that amount of Money is an emergency, an immediate action they have to take.  Now combine that manipulation with the aged brain of a grandma, poor eye vision and the lack of awareness of the surroundings and you got yourself a fatal combination.

I have seen a few videos of those people who try to bust Scammers.  The Scammers are often extremely disrespectful, I often can not fathom how many of them still catch victims with such attitude.  You would think they tried just a little bit to pretend they are nice, but most of them do not even care.

What do you expect from these figures? I don't think I ever expected the figures to reduce, the figures directly corresponds with the increasing crime rate. By next year, the figures may be higher if the economic situation in some countries do not change and improve for the better because as people become more desperate, they are more willing to find more ways to get money even if it is stealing. Bitcoin ATM's may just be the easier target currently for these criminals.

Whta's really bad in all this is this line


You have people getting cammed in a way that requires them to go get money out of their bank account and send crypto, none of those who are getting scammed this way will ever trust crypto gaian, their perception will be that the scammers couldn't get their money while in the bank but now are untraceable because of crypto transfers, so obviously they will thing bank are safer than bitcoin.


It's not too serious that the scams icnrarse twice the pace of ATM installations?
It means you have doubled the victims of an individual ATM in less than 3 years, and raised the median loss to $10000.
And most important than these numbers, the FTC only has knowledge of the reported scams, how many have been scammed and have not called the police is a guessing game.

It's just so sad those age brackets have always been the most victim to online scams, both from ranging from ponzi schemes, cyber hacking and now Bitcoin A.T.M fraud currently trending in the crypto community. And as such, I think it's high time, a public enlightenment is made for these age brackets who mostly falls victim to these types of scams. Because most times it is such acts like this that makes government sees crypto/Bitcoin as bad, since the real identity of these scammers can't be traced.

The idea is that there are big opportunities online because there is evidence that people around us or we see people online are successful. That is one of the main cause why people fall for scams that cost them a fortune. I can imagine how much that was been scammed that would give such a sum of amount ($65 million) this year when it's not yet over. Still, more and more people are being victims of scams because of a lack of knowledge about the process of it.

In a conference I attended. There was a discussion about cybercrime with tech-savvy individuals that engage in projects that are Ponzi schemes and scams. And I made a suggestion there, that a school for those who are victims of cybercrimes or are discussing with someone who they feel might be a scammer should be built for such persons. That will help increase global awareness.

Here are the methods on how their scams are done.


you can read the full details of explanation on the link below.
https://www.ftc.gov/news-events/data-visualizations/data-spotlight/2024/04/impersonation-scams-not-what-they-used-be

Bitcoin ATM numbers are increasing with time but trading fee through Bitcoin ATMs is very expensive. Depends on Bitcoin ATM manufacturers and operators, fees can be from expensive to super expensive.

Bitcoin ATMs: definition, fees and locations
Trading fee like 4.99% to 21.9% is very terrible and it makes Bitcoin ATM is not first consideration.

Bitcoin ATM Deposit Exchange Rate shocks

It doesn't help that Bitcoin ATMs are privatized, so that any company can charge whatever fee it wants because it's the only one in the area. There is no competition in this space at all, which would've helped to force those ATM operators to lower fees out of competitiveness.

That being said, 5% - 20% fee is outrageous and I'm surprised nobody's making more of a fuss about it.

It is mostly because of people who are supposed to know better and they don't, at this point scamming people from developed countries has become a very profitable industry in the underground world of internet, those figures alone are enough to prove it.
Interestingly (and sadly) it has gotten to the point many Bitcoin ATMs are nowadays required to hold some "scam alert" signs besides the ATM itself, so there is a chance to save some people from falling from the fake stories of scammers to urge their victims to transfer Bitcoin to their wallets.

Also, I have seen some cases which are quite mind-numbing to me, how people from both Europe and the United States are so easily convinced someone from the government is contacting them and they are required to pay/transfer thousands or hundreds of thousands in assets for them not to get in trouble. Common sense, people... common sense...