Consumer losses in bitcoin ATM scams skyrocketed nearly tenfold to $114 million annually between 2020 to 2023, according to data from the Federal Trade Commission.

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If you suspect you've fallen for a digital payment app scam, contact the app and your financial institution immediately.

Cybercriminals have now invented new tricks to steal money. They no longer need OTP (One Time Password) or ATM PIN. They simply send messages that appear to be from the bank. It contains fake links.

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