(ABC 6 News) — On Tuesday, Minnesota Attorney General Keith Ellison released a survey about Minnesotans’ experiences using cryptocurrency ATMs.
The survey follows a scam alert issued by Ellison regarding increased reports of crypto ATM scams.
It asks crypto ATM users about what company’s ATM they used, whether someone told them to use a crypto ATM, whether they lost money in the transaction, and more.
“Scammers and fraudsters are constantly developing new tools and tactics to steal money from hardworking Minnesotans, and it is essential for us to keep pace with them,” said Attorney General Ellison. “Crypto ATMs have become one of the go-to methods that scammers use to extract money from their targets, which is deeply concerning to me. I encourage all Minnesotans who have used a crypto ATM to fill out our survey so that I have the information I need to fight scammers and protect your pocketbooks. And in general, I recommend you steer clear of crypto ATMs. Even if you have a genuine interest in purchasing cryptocurrency, there are better ways to do so.”
Both the survey and scam warning are part of a larger investigation Ellison’s Consumer Protection Division is conducting into cryptocurrency ATMs.
According to a release from Ellison’s office, cryptocurrency ATMs are not scams by themselves, but they are increasingly being used to facilitate scams because transactions made through them are difficult if not impossible to trace.
The FBI has estimated that $246.7 million were lose in frauds involving cryptocurrency ATMs in 2024.
Minnesotans who have lost money due to scams involving cryptocurrency ATMs are encouraged to report those scams to local law enforcement and the Minnesota Department of Commerce in addition to filling out the survey.
That survey can be found here.