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Texas residents in the U.S. lost $56.8 million in one year due to cryptocurrency ATM scams.

MarsBitNews
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Mars Finance News, according to Cryptopolitan, data released by law enforcement in Texas, USA, shows that residents of the state have suffered total financial losses of up to $56.8 million due to cryptocurrency self-service terminal (ATM) scams over the past year. According to incomplete statistics, approximately 1,200 Texas residents have become victims of such scams. The typical modus operandi of cryptocurrency ATM scams is: scammers impersonate government agencies or corporate staff over the phone, claiming that victims are involved in legal issues or owe money, and instruct them to go to a crypto ATM to convert cash into cryptocurrency and transfer it to a specified address. Due to the irreversibility and certain degree of anonymity of cryptocurrency transactions, once funds are transferred, recovery is extremely difficult. Texas has become one of the hardest-hit areas for crypto ATM scams in the US, and state regulatory agencies are strengthening public education and prevention measures, reminding residents to be wary of such new fraud methods.
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