United

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 <li>A 37-year-old mobile shop owner was detained by Kent police for operating crypto ATMs illegally.&nbsp;</li>
 <li>In April 2023, the Kent police raided Habibur’s shop in Chatham, Kent, where they seized several crypto ATMs.</li>
 <li>There are currently no crypto ATMs registered with the FCA, said Matthew Long, Director of Payments and Digital Assets for the FCA.&nbsp;</li>
</ul>
Over dozens of scams, hacks, and frauds are reported in the cryptocurrency market daily, and the surging of fraud activities has raised severe concerns over the security of the blockchain currency.&nbsp;&nbsp;
According to recent information, the Kent police have detained a mobile shop owner for illegally operating a cryptocurrency ATM. Habibur Rahman, a 37-year-old resident of the United Kingdom, is accused of illegally laundering £300k of criminal cash by converting it into cryptocurrency.
As per the additional information earlier in April 2023, the Kent police raided Habibur’s shop in Chatham, Kent, where they seized several crypto ATMs. It is crucial to note that no registered cryptocurrency ATM exists in the region.
Matthew Long, Director of Payments and Digital Assets for the FCA, said, “There are currently no crypto ATMs registered with the FCA – so if you’re using one of these machines, you could be handing your money to criminals.”&nbsp; What is a Crypto ATM?&nbsp;&nbsp;&nbsp;&nbsp; 
A Crypto ATM (Automated Teller Machine) is a kiosk that allows users to buy or sell cryptocurrencies like Bitcoin, Ethereum, or others for cash or debit/credit cards.&nbsp;
Crypto ATMs are similar to traditional bank ATMs but are explicitly designed for cryptocurrency transactions, offering several other unique services. However, the transaction charges on crypto ATMs are comparatively greater than those of traditional ATMs.&nbsp; Other Market Updates&nbsp; 
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Illegal Crypto ATM Operation Busted in Kent, UK- Report

Todayq News

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