Crypto ATMs Dominate Cash-to-Crypto Transactions, Become Law Enforcement Concern: TRM Labs

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Crypto ATMs Dominate Cash-to-Crypto Transactions, Become Law Enforcement Concern: TRM Labs

The report, released Wednesday, highlights why law enforcement authorities around the world are concerned about the growing use of crypto ATMs, which accept fiat currency and send the crypto to the desired digital wallet. In 2023 alone, 79% of all illicit money-to-crypto transfers, or more than $30 million, were directed to known fraudulent addresses via money-to-crypto services.

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