FBI Warns Scammers Target Crypto ATMs and QR Codes
Main page News, US Market, Regulations

The Federal Bureau of Investigation (FBI) warns that scammers and bad actors are increasingly target cryptocurrency ATMs and QR codes to facilitate payment. The agency said in an official notice that QR codes have become a favorite tool for fraudulent activities.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

"Criminal actors, in various fraudulent schemes, maliciously leverage cryptocurrency ATMs and QR codes to receive payments from victims," the watchdog says.

According to the FBI, fraudsters are posing themselves as representatives of the government, law enforcement, or a legal office. They also establish an online relationship with a victim by creating a "false sense of intimacy and dependency." The agency emphasizes that cryptocurrency payments are generally difficult to recover, which differs this type of scam from the one involving traditional bank transfers.

FBI Recovers Millions Paid by Colonial Pipeline to Hackers in Crypto: Report

In September, Kraken Security Labs, the cybersecurity department of the Kraken exchange, revealed multiple hardware and software vulnerabilities in a popular bitcoin ATM — The General Bytes BATMtwo (GBBATM2). The experts found that the machine is vulnerable to multiple attacks through the default administrative QR code only.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error