Articles for tag: Bitcoin ATM network, crypto fraud, cryptocurrency ATMs, Dick Durbin, digital finance, regulatory crackdown, user protection

Market News

US Crypto ATM Network Declines Rapidly: 1,200 Machines Vanish in Days, Impacting Cryptocurrency Access and Transactions

In early March, over 1,200 cryptocurrency ATMs in the United States suddenly went offline, which coincided with the introduction of the Crypto ATM Fraud Prevention Act by Senator Dick Durbin. This law aims to tackle crypto ATM fraud following a concerning incident involving a resident in his state. Despite the U.S. having the largest network ...

Market News

XT Exchange Hacked: $1.7 Million in Cryptocurrency Stolen, Withdrawal Services Suspended Amid Security Concerns

On November 28, 2024, cryptocurrency exchange XT.com suspended all withdrawals after a suspected hack led to the theft of around $1.7 million in digital assets. Initially, the exchange attributed the suspension to “wallet upgrade and maintenance.” However, a blockchain security firm, PeckShield, confirmed unusual transfers from XT.com’s wallets. The hacker exchanged the stolen funds into ...

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