Arizona, USA issues cryptocurrency ATM scam warning and launches scam reporting tool

CycleProphet · 2026-02-03T05:46:39+00:00

Arizona Attorney General Kris Mayes issues warning about cryptocurrency ATM scams, urging victims to report losses within 30 days. In 2024, scams of this type have resulted in US losses of up to $246 million, with Arizona residents losing over $177 million. Scammers often impersonate law enforcement officers and others to pressure victims into depositing funds. New laws require ATM operators to provide multilingual warnings and 24/7 support.

CycleProphet

2026-02-03 05:46:39

Abstract generation in progress

Deep Tide TechFlow News, on February 3rd, according to Decrypt, Arizona Attorney General Kris Mayes issued a warning about cryptocurrency ATM scams and launched a scam reporting tool, requiring victims to report losses within 30 days. FBI data shows that in 2024, Americans lost up to $246 million due to cryptocurrency ATM scams, with 43% of victims over 60 years old. Arizona residents lost over $177 million to such scams in 2024.

Scammers often impersonate law enforcement officers, utility companies, or relatives, pressuring victims to deposit cash into cryptocurrency ATMs. Last year, Arizona passed laws requiring cryptocurrency ATM operators to display multilingual scam warnings, provide 24/7 customer support, and set a daily transaction limit of $2,000 for new customers and $10,500 for existing users. Mayes emphasized that any behavior requiring consumers to deposit funds via cryptocurrency ATM is highly likely to be a scam.

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