Texas Lawmakers Target Bitcoin ATMs Amid Rising Scam Reports

Smith County investigators met with state lawmakers to discuss the rising issue of theft using Cash-to-cryptocurrency terminals, also known as 'bitcoin ATMs.'

The machines are being increasingly used by scammers to steal from people, according to Sgt. Larry Smith of the Smith County Sheriff's Office.

Once cash is deposited into these terminals, it is quickly moved into digital wallets, making recovery difficult, officials said.

The victims of these crimes are often elderly and are left financially ruined as a result, a Smith County Sheriff's Office release stated.

Some lawmakers suggested banning the terminals in Texas to curb the number of people being victimized by scammers.

State Sen. Bryan Hughes and Reps. Cole Hefner and Daniel Alders plan to pursue legislation in the next session to address this issue.