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Cryptocurrency ATMs Facilitate Scams and Extract High Fees

🪙Cryptocurrency ATMs are being used as vectors for fraud and exploitation, with operators charging steep, often opaque fees that compound victims’ losses. Scammers frequently direct victims to ATMs to purchase crypto on their behalf, effectively outsourcing the money transfer while the ATM companies continue to profit. At best, operators appear indifferent to the harm caused; regulators and industry participants need clearer accountability and consumer protections to address these systemic issues.