Home / Crime and Justice / New Hampshire Fights Crypto Scams: Victims May Get Money Back
New Hampshire Fights Crypto Scams: Victims May Get Money Back
30 Mar
Summary
- New bill allows crypto ATM scam victims to report fraud within 14 days.
- Scams cost New Hampshire residents $22 million in 2024.
- Operators must hold first deposit for 48 hours and refund victims.
New Hampshire senators have passed bipartisan legislation to aid victims of cryptocurrency ATM scams. This bill offers a potential path to reimbursement for those who report fraud within 14 days.
In 2024, cryptocurrency scams exacted a heavy toll on New Hampshire residents, totaling $22 million. The proposed law addresses this surge by requiring cryptocurrency ATM operators to implement new safeguards.
Key provisions include a 48-hour hold on a victim's initial deposit, allowing time to detect and cancel fraudulent transactions. Operators will also be limited to $2,000 in daily transactions per person and mandated to refund victims who report within the 14-day window.
Hampton's police chief noted over $2.6 million was lost in his town alone in 2024, with the average victim age at 66. This legislation echoes similar measures in nearly 25 other states, though refund windows vary.
