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Cryptocurrency ATM fraud on the rise in Hawaii, officials warn | Honolulu Star-Advertiser
- Officials warn cryptocurrency ATMs in Hawaii are increasingly targeted by scammers amid a rapid rise in kiosk presence.
- In 2024 Hawaii logged 68 cryptocurrency kiosk complaints statewide, with $922,022 in losses, though under-reporting may hide more cases.
- The scams often involve callers posing as bank personnel to pressure victims into transferring funds to crypto kiosks.
- AARP and lawmakers seek safeguards such as daily limits, refunds, and live support to deter crypto-kiosk fraud.
- Kiosk operators include CoinFlip, Bitcoin Depot, and Athena Bitcoin, which connect cash deposits to cryptocurrency accounts.
- Police note fraud victims are often elderly, and they stress verifying authentic bank contacts before transferring funds.
- Officials caution residents to call the bank using the number on the card, not numbers from suspicious calls or emails.
- Lawmakers are considering HB 1277, aiming to cap deposits and improve accountability for crypto kiosks.
- Law enforcement reports cases are hard to trace when perpetrators operate outside the country, complicating investigations.
- Officials say the problem is growing faster than safeguards, prompting enforcement and policy discussions.
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