Why crypto ATMs are a scammer’s best friend
We want to hear from you! Please complete our survey: 2025 ABC News Daily Audience Survey You may have noticed a crypto ATM in the corner of a shopping centre or in a convenience store. There are thousands of them, tapping into investor’s interest around booming markets for bitcoin and other cryptocurrencies. But increasingly crypto ATMs are being used by criminals to launder money and to scam Australians out of millions of dollars. Today, business reporter Rhiana Whitson on why feeding cash into a crypto ATM can be so risky and why there’s so little regulation of the market. Featured: Rhiana Whitson, ABC business reporter
ABC News Daily · Australian Broadcasting Corporation
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Show Notes
We want to hear from you! Please complete our survey: 2025 ABC News Daily Audience Survey
You may have noticed a crypto ATM in the corner of a shopping centre or in a convenience store.
There are thousands of them, tapping into investor’s interest around booming markets for bitcoin and other cryptocurrencies.
But increasingly crypto ATMs are being used by criminals to launder money and to scam Australians out of millions of dollars.
Today, business reporter Rhiana Whitson on why feeding cash into a crypto ATM can be so risky and why there’s so little regulation of the market.
Featured:
Rhiana Whitson, ABC business reporter