Security

Arizona House intros bitcoin ATM scam bill

Photo: Adobe Stock

February 11, 2025

Arizona representative David Marshall recently introduced House Bill 2387 which aims to tackle bitcoin ATM fraud by limiting daily transaction amounts to $1,000, according to a report by ABC15. Scammers will often tell victims to go deposit money into bitcoin ATMs and send the money to a wallet controlled by them.

Arizona has seen nearly $127 million lost to bitcoin ATM fraud in 2023. This bill would also require licenses and refund policy options for victims of fraud.

We're seeing more and more scammers try to get people to pay them through bitcoin, which is number one really hard to trace," Attorney General Kris Mayes said in the report.

In 2023, Bitcoin Depot sued the McLennan, Texas County sheriff's office after a sheriff opened up an ATM to retrieve $15,000 that an 82 year old victim said she deposited into the machine on the guidance of a scammer. It maintains that it gives adequate notice of potential scams on its ATMs and warns users not to send money to wallets they do not control.