Massachusetts Bans Bitcoin ATMs as Scams Drain Millions, But Is It Enough?
Right now, there’s a growing conversation happening across Massachusetts about Bitcoin ATMs and whether banning them can actually stop scams that are costing residents tens of millions of dollars. A couple of cities have already taken bold steps, but the bigger question is whether those steps go far enough.
In cities like Waltham and Gloucester, Bitcoin ATMs have been banned outright. These machines, often found in gas stations and convenience stores, have been repeatedly linked to fraud cases where victims are pressured into converting their cash into cryptocurrency under false pretenses. The bans were passed in September, and since then, many of the machines have quietly been removed.
The urgency behind these decisions becomes clear when you hear stories like that of Nancy Lannom from Waltham. She received what seemed like a serious warning, an email claiming her savings account was at risk. She was told that unless she acted immediately, her money would be lost. Panicked and confused, she withdrew nearly $15,000 and deposited it into a Bitcoin ATM, believing she was protecting her savings. It was later realized that the entire situation had been orchestrated by scammers.
Also Read:- Racing Mourns the Loss of Young Jockey Bronte Simpson
- Call of Duty Visionary Vince Zampella Dies in Tragic Los Angeles Crash
What makes Nancy’s case unusual is that she managed to get most of her money back. That rarely happens. Thanks to quick action by Waltham Police Detective Mike Maher, the transaction was traced at just the right moment. The funds were flagged as they moved to another digital address, and a seizure was made. Out of roughly 60 similar cases handled by the detective, this was the first time money was successfully returned to a victim, and the process took about 18 months.
Because of stories like this, city leaders say banning the machines felt like a no-brainer. Gloucester’s mayor openly stated that there seemed to be no legitimate reason for residents to use these kiosks at all. So far, no complaints have been reported since the ban took effect.
Still, law enforcement officials warn that city-level bans may simply push scammers to redirect victims to nearby towns where the machines are still legal. That’s why attention is now shifting to broader solutions. A bill currently pending at the Massachusetts State House would introduce daily transaction limits, fee caps, and refunds for fraud victims. Similar ideas are being discussed in other states as well.
The common thread in nearly all these scams is false urgency. Victims are rushed, frightened, and told not to consult anyone else. Police continue to urge people to pause, talk to a trusted family member, and never send money through a Bitcoin ATM in response to unexpected calls or messages.
Banning the machines may reduce risk, but until stronger statewide protections and public awareness are in place, the threat is far from over.
Read More:
0 Comments