Crypto ATMs - AllStocks Network

US Marshals Service: Spoofers Launch a Nationwide Scam via Crypto ATMs

Posted on December 16, 2019December 16, 2019 by Julie Williams

Adding to the hundreds of Bitcoin scam schemes employed since its inception, a group of ‘spoofers’ is out there defrauding Americans via Bitcoin(BTC)trade in the disguise that they are government officials. Raising alarm on an epidemic that seems to be spreading fast across the nation, the United States Marshals Service together with the Federal Bureau of Investigation took to Twitter to warn US citizens about the latest Bitcoin scam. In a tweet, the U.S. Marshals…

Crypto ATM Provider Bitstop Begins Operating in Simon Malls Across the US

Posted on November 27, 2019November 27, 2019 by Rehan Yousaf

Bitcoin ATM provider Bitstop has partnered with Simon Property Group in a bid to expand the coverage of cryptocurrency ATMs across the country in malls. The new locations for the ATMs include Carlsbad Premium Outlets in Carlsbad, Califronia, Mall of Georgia in Budford in Georgia, Miami International Mall in Miami, Sawgrass Mills in Sunrise, and The Avenues in Jacksonville, Florida. Bitstop has been proactively pursuing an aggressive expansion of its Bitcoin ATM network in the…

IRS Wants to Investigate Crypto ATMs and Kiosks for Tax Evasion

Posted on November 18, 2019November 18, 2019 by Rehan Yousaf

An official from the U.S. Internet Revenue Service (IRS) has stated that the agency is going to investigate crypto-based ATMs and kiosks for potential criminal activities that include tax evasion and money laundering. Cryptocurrency ATMs and kiosks are increasingly gaining popularity among digital currency users in the United States as many owners of cryptocurrency use these machines to withdraw crypto funds. However, recently, the growing threat of money laundering and tax evasion has been surfacing…

Australian Authorities Seize Cryptocurrency ATM and Arrest Man in Crypto Investigation

Posted on November 13, 2019November 13, 2019 by Rehan Yousaf

Australian investigative authorities have arrested a man on charges of unregistered digital transaction of cryptocurrency. The Electronic crime squad of Australia made the arrest on 12th November in Cairnlea, as the 38-year-old man was arrested and escorted from his residence in the district. The investigation also led to a seizure of a cryptocurrency ATM associated with the case. The arrested man was taken into custody where he is currently held. The authorities have been investigating…

First Ever Crypto ATM Lands in Venezuela after Prior Failed Attempts

Posted on September 16, 2019September 16, 2019 by Ravi Rd

Venezuela has finally obtained its very first Bitcoin ATM. According to data presented on Coin ATM Radar, the Latin American firm PandaBTM has installed a crypto ATM in San Antonio del Táchira on September 10. Coin ATM Radar allows users to find the nearest Bitcoin ATM online. Venezuela has been going through some serious economic crisis after the U.S.-imposed strict trade sanctions. To get a hold of the falling economy and get it back on…

Crypto ATM Chain Coinme Collects $1.5M from Ripple Xpring and Blockchain Finance Fund

Posted on September 15, 2019September 15, 2019 by Ravi Rd

One of the global leaders in cryptocurrency ATM manufacturer, Coinme, has recently kick-started its new A-1 funding round to accelerate global expansion. The interesting thing is that the company has successfully secured $1.5 million from Ripple’s Xpring and Blockchain Finance Fund. Founded in 2014, Coinme is a leading blockchain financial services provider which aims to make cryptocurrencies prevalent across the globe with crypto ATMs. It became the first state-licensed Bitcoin ATM company in the U.S….

Canadian Police Alerts to Crypto ATM Scam of Adjacent Deceptive Poster

Posted on September 2, 2019September 2, 2019 by Ravi Rd

Winnipeg police in Canada is warning Bitcoin ATM users about a new scam. Local police said that a poster located next to the machines claims that the crypto ATMs are currently going through some software upgrade and that users should transfer the cryptocurrency to the fraudsters’ own account. The posters advise users not to buy or deposit Bitcoin(BTC)trade in their wallet but instead to follow the instruction presented the poster. If the users would follow…

Crypto Exchange and ATM Operator Admits to Money Laundering of $25 Million

Posted on August 27, 2019August 27, 2019 by Julie Williams

According to a report from the U.S. Attorney’s Office for the Central District of California, the crypto exchange and ATM operator Kunal ‘Kumar’ Kalra – also known as ‘coinman’ and ‘shecklemayne’ – recently pleaded guilty to four counts of federal criminal charges. The 25-year old Kalra has confessed that he has been running quite a dubious business for a while now. Besides running an unregistered Bitcoin exchange, Kalra has been in the metaphorical bed with…

LibertyX to Transform 90 Conventional ATMs to Crypto ATMs in Arizona and Nevada

Posted on July 21, 2019July 21, 2019 by Rehan Yousaf

The Boston-based LibertyX, an organization that develops software which transform standard non-bank ATMs to administer Bitcoin, has collaborated with ATM manufacturer DesertATM to include 90 ATMs situated in Arizona and Nevada to its existing Bitcoin ATM network. AMPM, ARCO and Chevron gas stations and Family Dollar retail locations are some of the places where these Bitcoin ATMs are now installed, as per the company’s press release. LibertyX’s software product is installed on conventional, money dispensing…

Drug Trafficking Group in Spain Used Crypto ATMs for Money Laundering

Posted on July 15, 2019July 15, 2019 by Julie Williams

With cryptocurrency came a lot of innovative developments. One of such innovations is the creation of ATM-like machines specifically for dispensing virtual currencies. These machines function like the conventional automated teller machines (ATMs). You can put in a specific amount to get the equivalent worth in crypto coins or convert the cryptocurrencies in your wallet to fiat currency and withdraw the hard cold cash. This development was highly welcomed in the crypto community, only that…

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