The U.S. Federal Trade Commission (FTC) has reported a significant increase in losses due to Bitcoin ATM scams. According to the FTC, the amount of money consumers reported losing rose nearly tenfold since 2020, reaching over $110 million in 2023. In the first half of 2024 alone, scammers stole $65 million through Bitcoin ATMs, with over $66M lost in just the first half of 2024. The FTC highlighted that these machines have become a hotbed for fraudulent activities, with scammers using fake calls, alerts, and QR codes to deceive victims. This surge in scams has prompted concerns about the security of Bitcoin ATMs and the need for increased consumer awareness and protection measures.