Officials, law enforcement celebrate incoming restrictions on crypto ATMs

New restrictions on cryptocurrency kiosks are an important “first step” in protecting New Hampshire residents from the widespread fraud the machines are often tied to, Gov. Kelly Ayotte said on Monday.

She spoke at a press conference at the Manchester Police Department, where officials, law enforcement officers, and AARP staff and volunteers celebrated the passage of Senate Bill 482, which creates new restrictions on the kiosks. 

Cryptocurrency kiosks are ATM-like machines often found at convenience stores or corner shops, operated by companies with names like Bitcoin Depot, CoinFlip, and Byte Federal. They are often used by scammers to defraud victims of their cash, law enforcement officers said on Monday, because they move funds in a way that is immediate and nearly impossible to trace.

“Over the last several years, I’ve seen scams involving crypto ATM machines increase to the point where they became one of the fastest growing fraud threats against our senior population,” said Detective Raymond Lamy, who investigates fraud for the Manchester Police Department, at the event.

Large amounts of money can be conveyed through the machines. The Hampton Police Department has learned of scams totaling over $1 million that have affected Hampton community members within the last 14 months, said Hampton Police Department Chief Alex Reno. In total, over multiple years, the department has documented over $3 million in fraud related to crypto ATMs, he said. Very little of the money is typically recovered.