Technology

Tennessee bans crypto ATMs that have become 'payment portal of choice for scammers' — second state to restrict machines after Indiana

Source

Tom's Hardware

Published

Apr 30, 2026

TL;DR

AI Generated

Tennessee has joined Indiana in banning cryptocurrency ATMs due to their association with scams and fraud, with Minnesota considering similar legislation. The FBI has warned of significant losses due to fraud involving these machines. Despite not being inherently fraudulent, cybercriminals exploit crypto ATMs to steal funds from victims who mistakenly believe they offer the same protections as banks. Law enforcement actions against operators like Bitcoin Depot and Athena Bitcoin highlight the growing concerns around crypto ATM scams, leading to increased regulatory measures across states to protect consumers.

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Wingtech posts $1.3 billion loss and faces Shanghai delisting as Nexperia audit collapses — 57% of company's assets can't be verified

Wingtech Technology, the parent company of Nexperia, reported a $1.3 billion loss for 2025, leading to a risk of delisting from the Shanghai Stock Exchange due to audit issues. The auditor, RSM, could not verify the financial statements as 57% of Wingtech's assets are tied to Nexperia, which they couldn't access data for. The loss was mainly due to devaluing Nexperia. The companies have been in a dispute, with the Dutch government intervening over security concerns. Wingtech is working on legal remedies and developing a domestic supply chain amidst the turmoil.

Tom's Hardware•

7 hours ago

Crypto scam takes advantage of Strait of Hormuz crisis by taking fake payments, leading to two ships being fired upon — two vessels reportedly fell victim and paid fake 'Iranian authorities'

Scammers are exploiting the crisis in the Strait of Hormuz by sending fake messages posing as Iranian authorities to demand cryptocurrency payments as "clearance fees" from vessel owners. At least two ships were reportedly fired upon after falling victim to this crypto scam. The scammers' message requested payment in Bitcoin or Tether for safe passage through the strait, leading to confusion and potential danger for ships in the area. Despite the chaos in the region, it remains unclear whether the incidents were due to the scam or communication issues within the Iranian military. Ship owners, carrying valuable cargo, are particularly vulnerable targets for such scams amidst the ongoing tensions.

Tom's Hardware•

1 week ago

US-sanctioned currency exchange says $15 million heist done by "unfriendly states"

Grinex, a US-sanctioned cryptocurrency exchange in Kyrgyzstan, announced a $15 million heist allegedly orchestrated by hackers linked to "unfriendly states." TRM researchers confirmed the theft, noting more drained addresses than initially reported by Grinex. The attack targeted Russian users, with Grinex attributing it to a coordinated effort to harm Russia's financial sovereignty. TokenSpot, another Kyrgyzstan-based exchange, was also breached, with both exchanges becoming inoperable on Wednesday. The US Treasury Department had previously sanctioned Grinex's predecessor, Garantex, for facilitating ransomware actors and cybercriminals.

Ars Technica•

1 week ago

MIT Technology Review

The Download: an exclusive Jeff VanderMeer story and AI models too scary to release

The article discusses an exclusive short story by Jeff VanderMeer called "Constellations," featuring a spacecraft crash-landing on a hostile planet. It also highlights concerns over the release of AI models by OpenAI and Anthropic due to security fears, with restrictions being put in place. Additionally, the piece touches on Florida's investigation into OpenAI's alleged role in a shooting and Volkswagen's shift from EV production to gasoline models. Elon Musk's xAI suing Colorado over an AI anti-discrimination law and the impact of AI on job roles are also covered.

MIT Technology Review•

3 weeks ago