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Lawmakers Call on Top 10 Bitcoin ATM Firms to Address Crypto Fraud Concerns

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Seven Senate Democrats have called on the 10 largest bitcoin ATM operators in the U.S. to address growing crypto fraud that targets elderly Americans. The lawmakers explained that scammers are reportedly exploiting the anonymity of cryptocurrency transactions to steal from seniors through bitcoin ATMs. The senators urged companies to implement stronger measures to combat the … Read more

FTC Urges Caution as Bitcoin ATM Fraud Cases Skyrocket

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The Federal Trade Commission (FTC) has reported a sharp rise in scams involving bitcoin ATMs, with fraud losses increasing nearly tenfold from 2020 to 2023 and exceeding $65 million in the first half of 2024. These scams often involve impersonations and target vulnerable populations, such as older adults, with significant financial impact. FTC Warns of … Read more

FTC Warns: Social Media Investment Scams on the Rise

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The U.S. Federal Trade Commission (FTC) has warned consumers about a surge in social media investment scams, especially in cryptocurrency. These scams involve fraudulent messages claiming guaranteed high returns with little or no risk. The FTC advises ignoring such messages and reminds consumers that all investments carry inherent risks. FTC Issues Warning on Social Media … Read more

US Federal Trade Commission Investigates Marketing Schemes of Crypto Firm Voyager

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According to a court document filed recently in the Voyager Digital bankruptcy case, the U.S. Federal Trade Commission (FTC) is investigating the marketing of the crypto firm. Like the U.S. Securities and Exchange Commission (SEC), the FTC has objected to Binance US purchasing Voyager’s assets. FTC’s Objection to Voyager’s Proposed Sale Plan Could Impact Bankruptcy … Read more