Video
Seniors are disproportionately affected by these schemes, as those over 60 were more than three times as likely as younger adults to fall prey to the scams
September 6, 2024
US consumers lost more than $114 million last year to scams involving Bitcoin ATMs (BTMs), with this figure increasing tenfold from 2020, according to data released this week by the US Federal Trade Commission (FTC). released. With consumers losing $65 million to these tricks in the first half of 2024 alone, this year is on pace to surpass 2023’s losses. The FTC also found that older adults are disproportionately affected by these scams, with a three-year old age increase among those age 60 or older. times as likely as younger adults to report a loss using a BTM.
How do these scams work and how can you protect yourself against them? Find out in the video.
