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How Bitcoin ATM scams work and how banks can spot the risk on-chain

calendar_today July 22, 2026 person hello@elliptic.co (Elliptic) domain elliptic

Crypto ATM scams reach banks the same way most cryptoasset risk does: through ordinary customers. A customer withdraws cash, feeds it into an ATM on the instruction of someone they’ve never met, and the funds are gone before anyone at the bank has reason to look twice.

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