Crypto ATM scams are rising, with Massachusetts considering banning the machines.

A South Hadley business owner who put a crypto ATM in his store for some passive income was scammed out of thousands. His employee received a call from a man posing as the machine’s owner, demanding they add $11,000 to the cryptocurrency machine, which was quickly stolen.

Another person lost $48,000 following another scam.

These scams have increased 99% over the last two years, with victims losing $247 million. Many places, like Massachusetts, are now considering a ban on the machines or at least new policies like registration and withdrawal limits to prevent more crime.

https://www.mitrade.com/au/insights/news/live-news/article-3-1187632-20251011