New Hampshire officials are warning residents about the growing threat of cryptocurrency ATM scams.
Law enforcement leaders and consumer protection advocates said the scams have become a common tool used by criminals.
Criminals impersonate government officials, law enforcement officers, financial institutions, and technology support representatives to convince victims to deposit cash into cryptocurrency machines.
Once funds are transferred, the transactions are often irreversible, leaving victims with little chance of recovering their money.
A new state law in New Hampshire, taking effect in New Hampshire, will include safeguards to prevent this, including a $2,000 daily transaction limit, stronger oversight requirements, and refund protections for fraud victims who report scams within 14 days.
Multiple communities in Massachusetts have removed crypto kiosks, including Haverhill, Revere, Sharon, and Lakeville.
The Massachusetts Senate voted to ban them. However, the legislation has not been passed.
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