A new state law went into effect today. The law provides critical consumer protections to help combat the increase of fraud involving cryptocurrency ATMs.

AARP Advocacy Director Joy McGill said many people do not realize that cryptocurrency ATMs exist. She said they look very similar to traditional cash ATMs that many people already use.

Where are some of the locations these machines are located?

Grocery stores

Gas station stores

Corner stores

“Scammers are utilizing these cryptocurrency ATMs as a method to get people to transmit cash that is converted to cryptocurrency,” said McGill.

McGill said scammers lure people to cryptocurrency machines to make deposits.

Once the money is deposited into a cryptocurrency machine, the money is virtually gone.

What is the difference between cr

See Full Page