Crypto ATMs Exploited by Scammers: FinCEN Exposes Drug Money & Elder Fraud Schemes
Crypto ATMs—the same machines touted as gateways to financial freedom—are now being weaponized by fraudsters. FinCEN's latest alert reveals a dark underbelly of illicit cash flows, from narcotics trafficking to preying on vulnerable seniors.
How scammers exploit the system
Bad actors are turning convenient crypto kiosks into off-ramps for dirty money. No sophisticated blockchain tricks—just old-school social engineering paired with pseudo-anonymous transactions. The perfect storm for grifters who’ve moved on from Western Union.
The finance jab
Another win for ‘innovation’—where cutting-edge tech meets humanity’s oldest profession: separating fools from their money. Maybe next we’ll see ransomware payments at the local bodega’s Bitcoin terminal.
