Tasmanian police find top 15 crypto ATM users are scam victims

Key Points

1. Tasmania Police Cyber Investigations reported that the top 15 crypto ATM users in the state were scam victims, losing a combined 2.5 million AUD ($1.6 million).

2. Over a third of the losses, around $592,000, were deposited into crypto ATMs.

3. Scammers pressured victims through fake investment and romance scams, often using high-pressure tactics.

4. AUSTRAC introduced new operating rules and transaction limits for crypto ATM operators on June 3 to combat scams.

5. Tasmania's crypto ATMs grew from one in 2021 to over 20, with Coin ATM Radar data showing 24 in the state.

6. Australia is the third-largest hub for Bitcoin and crypto ATMs globally, with over 1,890 ATMs as of recent data.