Crypto ATMs dominate cash-to-crypt transactions, become a concern for law enforcement: TRM Labs

The report, released Wednesday, highlights why law enforcement authorities around the world are concerned 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 transfers of over $30 million went to known fraudulent addresses via cash-to-crypto services.