ST. PAUL — Minnesota Attorney General Ellison has released a survey about Minnesotans’ experiences using cryptocurrency ATMs
Ellison encourages all Minnesotans who have used a crypto ATM even once to take a few short minutes to complete the survey, which is available at
www.ag.state.mn.us/Survey/Bitcoin-ATM.
The survey asks crypto ATM users about what company’s ATMs they used, whether someone told them to use a crypto ATM, whether they lost money in the transaction, and more. A survey was also emailed directly to consumers who have used crypto ATMs operated by one of the nation’s leading purveyors of such ATMs.
“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,” Ellison said in a news release. “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.”
The release of this survey follows a
scam alert issued by Ellison on Dec. 19
which warned consumers about the perils of using crypto ATMs. Both the survey and the scam warning are part of a larger investigation Ellison’s Consumer Protection Division is conducting into cryptocurrency ATMs.
While not scams in and of themselves, crypto ATMs are increasingly used to facilitate scams because transactions made via crypto ATMs are difficult, if not impossible to trace. As such, crypto ATMs have become one of the go-to methods that scammers use to steal money from their targets. The FBI estimates that $246.7 million were lost in frauds involving cryptocurrency ATMs in 2024. The attorney general of Washington, D.C., recently filed a lawsuit against Athena Bitcoin, a major crypto ATM operator, which alleged that a staggering
93% of deposits to the company’s crypto ATMs were due to scams.
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
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