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Minnesotans hit by widespread crypto ATM scams, prompting state ban
Minnesota is banning crypto ATMs following a surge in scams that saw nearly $1 million drained from residents over several years through these machines. The ban aims to protect consumers from exploitation.
Minnesota has banned crypto ATMs amid a surge in scams that have drained nearly $1 million from residents over the past few years through these machines, which are also known as cryptocurrency kiosks. The ban is aimed at preventing further financial losses to vulnerable individuals. Scammers have reportedly exploited the machines to execute phishing attacks and other illicit activities. The ban will go into effect in an effort to protect consumers from fraudulent activities.
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