How fraudsters are using crypto ATMs to launder millions from Canadian scam victims
Brenda Smith didn’t know what a cryptocurrency ATM was before she was directed to deposit more than $12,000 cash into two of the machines last year as part of an elaborate cyber scam.
The 76-year-old Calgary retiree suffered a stroke a few months before that, which she says was affecting her cognitively.
“They’re so convincing, and unfortunately I was vulnerable,” Smith said.
“He did walk me through what to do, and so of course, I just deposited the money and never really gave it a second thought.”
Crypto ATMs might look a lot like a traditional banking machine, but instead of dispensing cash from your bank account, the majority of these machines allow customers to deposit cash and then convert it into cryptocurrency, like BitCoin. Then,…
