Elliptic published a report explaining how Bitcoin ATM scams work. Scammers manipulate victims, often elderly people, into depositing cash at physical crypto kiosks before transferring funds to wallets under their control. Once the transaction is made, reversing it becomes nearly impossible. Blockchain analytics can trace these flows and identify scam-linked addresses, turning the problem into an on-chain investigation. Fund recovery remains difficult but analytics tools provide investigators and law enforcement with actionable leads to disrupt laundering paths.
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