ORO VALLEY, Ariz. (KVOA) – A nonprofit organization is campaigning to remove cryptocurrency ATMs in Southern Arizona, citing a rise in financial scams targeting seniors. The group claims these machines, now appearing in local stores and gas stations, are contributing to significant financial losses for individuals unfamiliar with cryptocurrency.
A spokesperson for the nonprofit explained the issue, emphasizing the dangers of these machines. “Criminals like to send people to methods of payment that they’re not familiar with,” Brian Watson, a representative of the Arizona nonprofit ROSE, said.
Watson shared a concerning story about a woman who lost $700,000, thinking she was investing in cryptocurrency. “It’s very frustrating,” Watson said, referring to the frequency of such scams.
Currently, Watson is engaging with the Oro Valley Town Council about the potential removal of these ATMs. “They’re very receptive and I think is a start of a process,” Watson said. He is also open to discussions with Pima County leaders and nearby cities on this matter.
This initiative comes in light of a new Arizona law that reduces daily limits for cryptocurrency ATMs, adds warnings, and mandates refunds for scam victims. Arizona Attorney General Kris Mayes noted that over 600 cryptocurrency ATMs are operational across the state.
Mayes also says Arizonans lost $177 million to these type of scams in 2024.
Residents like Anita are calling for more education. “I think a lot more education is required,” she said.
We have reached out to Bitcoin Depot, the company that we showed during this story for comment.
For more information about ROSE, click here.