Illinois Democratic Senator Dick Durbin, former chairman of the Senate Judiciary Committee, has introduced a bill aimed at reducing cryptocurrency ATM fraud in the United States.
Speaking on the Senate floor on February 25, Senator Durbin recounted the case of a constituent who was duped by a scammer who falsely claimed there was a warrant out for his arrest.
The scammer convinced the individual to "pay the fine" by depositing $15,000 in a cryptocurrency ATM to avoid jail time.
Senator Durbin highlighted this as part of a disturbing trend of crypto ATM fraud among the more than 30,000 ATMs operating in the US.
In response, he proposed the Cryptocurrency ATM Fraud Prevention Act to protect against scams, particularly those targeting seniors.