A joint investigation by the International Consortium of Investigative Journalists (ICIJ) and CNN has uncovered that Bitcoin ATMs located in Circle K convenience stores are being exploited for fraudulent activities. The investigation highlighted the case of Steve Beckett, a 66-year-old who lost $7,000 after converting his savings into Bitcoin using a Bitcoin Depot ATM. Over 150 victims have reported losses totaling $1.5 million through similar schemes. Circle K has stated that these Bitcoin ATMs are operated by third-party companies, while Bitcoin Depot emphasized its ongoing efforts to prevent fraud. This investigation is part of a broader examination into how cryptocurrency firms may inadvertently benefit from criminal activities, with Bitcoin ATMs identified as significant entry points for illicit transactions.
Bitcoin ATMs in Circle K Stores Linked to Fraud Schemes
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