OCCRP and Miami Herald Reveal $120 Million Stolen via Crypto ATMs in 2023

A recent investigation by the Organized Crime and Corruption Reporting Project (OCCRP) and the Miami Herald has revealed a significant increase in the use of cryptocurrency ATMs by scammers and criminals. According to the FBI, over $120 million was stolen through crypto ATM scams in 2023. These ATMs, which exchange cash into cryptocurrency, have become a favored tool for money launderers and other illicit actors. Chainalysis, a blockchain analysis firm, also notes that money launderers are increasingly turning to cryptocurrency to conceal the flow of funds.