The Federal Bureau of Investigation (FBI) has assisted investors in the sharp increase in the number of criminals using crypto ATMs and QR codes to steal digital assets amid the growing crypto market.
FBI has uncovered many scams to date. According to the agency, these scammers operate in very similar ways. These types of scams often start with a bogus fund request. Criminals direct the victim to visit a physical crypto ATM to purchase the token they are talking about. Upon completion of the purchase, the scammers allow victims to use the QR code, thus withdrawing all the money to the scammers’ wallets.
According to the FBI’s report, as soon as such payments are made, criminals transfer funds overseas. This makes it more difficult to get the fund back.
The FBI warns users to stay away from the platform that requests crypto transactions.
Crypto scams have increased with the growth of the industry. Cardano (ADA) founder Charles Hoskinson also pointed out that crypto fraud is on the rise and urged investors to be careful.