Attorney General Ellison Unveils Public Cryptocurrency ATM Survey
Minnesota Attorney General Keith Ellison recently introduced a survey aimed at gathering information on residents’ experiences with cryptocurrency ATMs. He urges all Minnesotans who have utilized these machines to participate in the brief survey available online.
Survey Information on Cryptocurrency ATM Use
The survey seeks to understand the usage patterns of crypto ATMs among residents. Participants will be asked several questions including:
- Which company’s ATMs they used
- If they were referred to a crypto ATM by someone
- If they experienced any financial losses during their transactions
The initiative is part of a broader investigation by Ellison’s Consumer Protection Division, focusing on the risks of using cryptocurrency ATMs. As scams proliferate, these machines have increasingly become tools for fraudsters, allowing them to extract money in ways that are hard to trace.
Concerns About Scams
Ellison expressed significant concern over the misuse of crypto ATMs by scammers. “Scammers and fraudsters are constantly developing new tools and tactics to steal money from hardworking Minnesotans,” he stated. He emphasizes the need to inform residents about the risks associated with these machines.
He added, “Even if you have a genuine interest in purchasing cryptocurrency, there are better ways to do so.” The survey follows a scam alert issued by the Attorney General’s office on December 19, highlighting the dangers linked to cryptocurrency ATMs.
Statistics and Legal Action
According to an FBI estimate, losses in fraud involving cryptocurrency ATMs reached approximately $246.7 million in 2024. Furthermore, a lawsuit from the Attorney General of Washington, D.C., against Athena Bitcoin has revealed shocking statistics, indicating that 93% of deposits made to the company’s ATMs were associated with scams.
Minnesotans who have fallen victim to scams related to cryptocurrency ATMs are encouraged to report these incidents. They can contact local law enforcement, the Minnesota Department of Commerce, or complete Ellison’s survey to share their experiences.
