Federal agencies are sounding the alarm on a troubling trend: Bitcoin ATM scams are on the rise, particularly affecting the elderly population. With the anonymity of Bitcoin being exploited by fraudsters, these scams have led to staggering financial losses. The document underscores a growing issue that demands immediate attention from regulators and law enforcement.
FTC and FBI Report Significant Losses to Cryptocurrency Scams
The Federal Trade Commission (FTC) and the Federal Bureau of Investigation (FBI) have reported that over $333 million was lost to these scams in 2025 alone. The agencies highlight that the lack of understanding about cryptocurrency among older adults makes them prime targets for these deceptive schemes.
Call for Enhanced Consumer Protection
Regulators are urging the public to remain vigilant and are advocating for enhanced consumer protection measures. They stress the importance of educating individuals about the risks associated with Bitcoin ATMs and the need for increased awareness to prevent further financial exploitation.
In light of the rising Bitcoin ATM scams highlighted by federal agencies, the Avalanche Foundation has recently launched the Avalanche Card, a new payment solution for cryptocurrency transactions. This innovative card aims to enhance the usability of digital assets in everyday purchases. For more details, visit read more.
