Minnesota AG Targets Crypto ATM Scams Amid Rising Fraud Concerns
Minnesota Attorney General Keith Ellison has launched a statewide survey to investigate consumer complaints surrounding cryptocurrency ATMs. The initiative focuses on identifying scam patterns, user experiences, and financial losses tied to these machines—now a favored tool for fraudsters draining victims' funds.
The survey probes critical details: preferred ATM brands, referral sources, and transaction histories. Distributed directly to users of major crypto ATM providers, it aims to arm regulators with actionable data to combat what Ellison calls 'evolving tactics' targeting Minnesotans.
Ellison's warning underscores broader regulatory tensions as crypto ATMs proliferate. While acknowledging legitimate use cases, he urged residents to exercise extreme caution, noting that scammers often exploit the machines' irreversible transactions. The findings could shape future enforcement actions or legislation.
