According to the FBI's Internet Crime Complaint Center (IC3), the scams surfaced nationwide at bitcoin ATM kiosks. Victims were typically instructed by phone or text to deposit cash and transmit cryptocurrency to external digital wallets.

The US has over 45,000 active cryptocurrency cash kiosks placed largely in retail stores, gas stations and shopping centers, enabling near-instant cash conversion to crypto and transfer to external wallets, often in under five minutes.

Many transfers were routed to wallets later identified in fraud investigations spanning Southeast Asia, Eastern Europe, and West Africa.

The spike matters now because kiosk networks have grown rapidly alongside broader cryptocurrency adoption.

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Hi Danforth:

Your answer to your grand nephew "bigger fools" about bitcoin is perfect.

There is an old mafia philosophy that I have used over the decades in the military or USIC:

"If you don't understand it, get rid of it."

Years ago, a US Army Major handed me a raw intelligence report (IIR) which was fairly important. I edited the confusing chaff out of the IIR to get to the BLUF, or the "meat of the matter" and put the report into the national portal (SIPRNET).

Problem solved.

Another time I had a chance to fire an AK-47 rifle overseas. Having qualified on many weapons over the years, I never fired one of these loud Bolshevik firecrackers. I was unfamiliar with its operation, even though assault rifles basically work the same way.

To save my hearing (even with earplugs AK-47s are loud) and not look too stupid, I politely declined the offer from my "allied" colleague.

Problem solved.

Oh, bitcoin stuff and investments? No thank you.

Problem solved.