Bitcoin Depot · US Congress · FBI · U.S. · Bitcoin.com News
Congress Targets Crypto ATMs After Americans Lose $333 million to Scams
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Lawmakers are seeking to curb crypto ATM fraud with a bipartisan bill that would set transaction limits, mandate scam warnings, and require transaction records and updated kiosk location records.
Key facts
- U.S. Representatives María Elvira Salazar (R-FL) and Sean Casten (D-IL) introduced the Stop Crypto ATM Scams Act on June 11, Salazar’s office announced
- More than 30,000 crypto ATMs operate across the United States in gas stations, convenience stores, and shopping centers
- Bitcoin Depot revealed it lost over 50 bitcoins in a cyberattack in which an unauthorized party gained access to…
- FBI data cited in the release showed reported losses rose 33 percent from the previous year
Summary
Lawmakers introduced a bipartisan bill targeting crypto ATM fraud after reported losses topped $333 million. Older Americans faced most known-age losses, making senior protections central to the proposal. Operators could face stricter limits, required warnings, refunds, and expanded state safeguards. U.S. Representatives María Elvira Salazar (R-FL) and Sean Casten (D-IL) introduced the Stop Crypto ATM Scams Act on June 11, Salazar’s office announced.