Cash-to-Crypto Industry Dominated by ATMs Is a Law-Enforcement Concern: TRM Labs

The report, released Wednesday, highlights why law enforcement authorities worldwide have concerns about the growing use of crypto ATMs, which take fiat currency and send crypto to the desired digital wallet. In 2023 alone, 79% of all illicit cash-to-crypto tranfers, over $30 million, went to known scam addresses through cash-to-crypto services.