Tasmania Police have identified that the top 15 users of crypto ATMs in the state are all victims of scams, with collective losses amounting to 2.5 million Australian dollars (approximately $1.6 million). Over a third of this sum, around $592,000, was deposited into these ATMs. The police operation revealed that victims were often manipulated or pressured by scammers into using crypto ATMs after financial institutions flagged suspicious transactions. Detective Sergeant Paul Turner emphasized that individuals under pressure to deposit cash into crypto ATMs, particularly from unknown sources or under urgent circumstances, are likely being scammed. The rise of crypto ATMs in Tasmania, from just one in 2021 to over 20 currently, highlights an increasing trend in criminal use, prompting a broader crackdown on these operations across Australia, initiated by authorities like AUSTRAC. Similar efforts are being observed globally to curb the misuse of crypto ATMs, reflecting growing concerns about financial crimes associated with cryptocurrency transactions.

Source 🔗