PANews reported on June 3 that Australia’s financial intelligence agency AUSTRAC announced new regulations on June 3, setting a single cash deposit and withdrawal limit for crypto ATMs at 5,000 AUD (approximately 3,250 USD), and strengthening customer due diligence and transaction monitoring. The new regulations aim to combat scams related to crypto ATMs, particularly targeting older users.
According to the AFP, between January 2024 and January 2025, ReportCyber, an Australian cybercrime reporting platform, received 150 cases of fraud involving cryptocurrency ATMs, with a cumulative loss of $3.1076 million, with an average loss of more than $20,000 per case, and nearly half of the victims were over 51 years old. The main types of scams include investments, ransom emails, and “pig slaughter”. According to the data, the annual transaction volume of crypto ATMs is as high as $275 million, and the actual losses related to fraud may be seriously underestimated. Police warned that once a transfer is almost impossible to recover, and called on the public to be vigilant.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
