Overview

• Senator Cynthia Lummis said the forthcoming market-structure bill she co-sponsors with Senator Kirsten Gillibrand will address crypto ATM risks after a 2023 kiosk measure failed.
• FinCEN reported a 31% jump in 2024 victim losses to nearly $247 million, and FBI IC3 complaints involving crypto kiosks rose to more than 10,956.
• Adults over 60 account for more than two-thirds of reported losses tied to crypto kiosks, according to federal data.
• DC Attorney General Brian Schwalb sued Athena Bitcoin, alleging undisclosed fees and weak safeguards, and claiming 93% of deposits through its machines were tied to scams.
• Cheyenne police reported 50 Bitcoin ATM fraud cases totaling over $645,000 in unrecovered cash, while operator Byte Federal endorsed targeted rules and said it calls customers over 60 to screen for scams.