Bitcoin ATM scams are soaring — and older adults are increasingly the victims [CNBC]
Bitcoin Depot Inc. - Class A (BTM)
Company Research
Source: CNBC
Data the Federal Trade Commission provided to NBC News show the amount of money consumers have reported losing to scams involving Bitcoin ATMS rose nearly tenfold since 2020, topping $110 million in 2023. And older people are getting roped in the most. The agency said consumers over age 60 were more than three times as likely as younger adults to say they were duped out of cash in these schemes. “Scammers are using these machines as a way to take money from people more than we've seen in the past,” Emma Fletcher, a senior data researcher at the FTC, told NBC News. Bitcoin ATMs look like traditional ATMs and operate similarly, in that they can be used for both deposits and withdrawals, but the transactions involve cryptocurrencies. The machines are banned in some countries, including the U.K. and Singapore, but they're legal in the U.S. According to one estimate , there are nearly 32,000 nationwide today, up from just over 4,000 at the start of 2020. The kiosks can now be foun
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BTM
News
- The bitcoin ATM has emerged as one of cryptocurrency's biggest threats [CNBC]CNBC
- Bitcoin ATM Scam Losses Increased 10x in Just Three Years [Yahoo! Finance]Yahoo! Finance
- Bitcoin ATM scams are soaring — and older adults are increasingly the victims [MSNBC.com]MSNBC.com
- Australia Leads the World in Crypto ATM Growth as Kiosks Pour in [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Bitcoin Depot Second Quarter 2024 Earnings: EPS: US$0.66 (vs US$1.02 loss in 2Q 2023) [Yahoo! Finance]Yahoo! Finance
BTM
Earnings
- 11/13/23 - Miss
BTM
Sec Filings
- 9/23/24 - Form 4
- 9/23/24 - Form 3
- 9/23/24 - Form SC
- BTM's page on the SEC website