Damages in the US exceed $333 million; FBI reports surpass 12,000
In a recent report released on the 12th, Certiq revealed that losses from cryptocurrency ATM fraud in the United States surged to $333 million (KRW 492.3 billion) last year. As fraud schemes leverage industrialized and sophisticated AI deepfake technology, reports received by the Federal Bureau of Investigation (FBI) increased by 33% year-over-year.
Certik noted that cryptocurrency ATM fraud has become one of the fastest-growing forms of financial crime in the United States. Criminal organizations are exploiting the speed and anonymity of cryptocurrency ATMs (unmanned terminals) to steal victims' funds at an even faster rate.
The FBI recorded more than 12,000 reports from January to November last year, a 33% increase over the previous year.
According to Certik data, the US accounts for 78% of the 45,000 cryptocurrency ATMs worldwide. Certik added, "Cryptocurrency ATMs can convert cash into cryptocurrency in less than five minutes and have extremely streamlined identity verification procedures, making them the lowest barrier to entry and most convenient way for fraudsters to access funds."
With the advancement of AI deepfake technology, scammers are using more sophisticated techniques, such as impersonating victims' family members, acquaintances, and even government officials, so special caution is required.
Joohoon Choi joohoon@blockstreet.co.kr
