Journalist
Key Takeaways
How big is the problem?
The FBI logged about 11,000 complaints in 2024, with $247 million in losses, nearly double the cases from 2023.
How do these scams work?
Fraudsters pose as trusted figures, like relatives or government agents, and convince victims to “secure” money through a crypto ATM.
Crypto ATM scams are surging across Massachusetts, leaving both businesses and individuals counting heavy losses as fraudsters exploit the machines for quick payouts.
Massachusetts sees a rise in crypto ATM scams
In one alarming case, a South Hadley business owner who rented out a crypto ATM for just $200 a month saw his employee duped by a scammer posing as him, resulting in an $11,000 loss that police have yet to recover.
In fact, reports suggest that victims have lost tens of thousands of dollars, including one resident scammed out of $48,000.
Police Chief Jennifer Gundersen said,
“We’re finding that these are irreversible, untraceable, nearly impossible for us to investigate, but we spent dozens and dozens and dozens of hours [investigating].
