Crypto ATMs are increasingly being exploited by scammers and illicit actors, according to a new report from the U.S. Department of the Treasury submitted to Congress under the GENIUS Act.
Summary
- The US Treasury warned that crypto ATMs are increasingly being used in scams, with reported losses reaching $246.7 million in 2024.
- The agency also flagged mixers, DeFi platforms and cross-chain tools as potential channels for laundering stolen crypto.
- At the same time, the report highlights AI, blockchain analytics and digital identity systems as emerging technologies that could strengthen anti-money-laundering compliance.
