Agreeing to TRM Labs, ATM trades have reused at slightest 160 million in untamed bargains since 2019.In 2023, the share of illicit transactions on these devices reached 1.2% of total volume, compared to 0.63% for the entire cryptocurrency ecosystem. This difference highlights the particular vulnerability of these devices to fraud and money laundering. More than $30 million of illicit volumes in 2023 were linked to known fraudulent addresses. Australia has now become the third-largest cryptocurrency market in the world, with the number of cryptocurrency ATMs increasing 17-fold in the last two years. This rapid growth has attracted the attention of regulators and increased efforts to ensure compliance with anti-money laundering protocols.
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