Arizona cracks down on crypto ATM scams targeting older adults with new law
PHOENIX — Cryptocurrency kiosks are popping up in gas stations, convenience stores and smoke shops across Arizona.
These crypto ATMs look like regular ATMs but are used to convert cash into cryptocurrency.
Scammers are using them to steal millions of dollars from older adults, prompting lawmakers to pass new legislation to help stop the fraud.
“I’ve never seen it as bad as it currently is,” said Dana Marie-Kennedy, state director of AARP Arizona.
Arizona law enforcement can barely keep up with the growing problem. “We’re seeing elderly folks being lured down to ATM cryptocurrency, ATM machines, and being asked by scammers to put $50,000 into the (Bitcoin ATM machine),” said Arizona Attorney General Kris Mayes.
Once the money is sent, it’s…
