Vladimir Gorbunov, founder of Choise.ai, has expressed concerns regarding proposed bans and strict regulations on cryptocurrency ATMs. He said that these measures misdiagnose the issue, which he believes lies in sophisticated scamming and inadequate public education rather than the machines themselves. This statement was made on HackerNoon.
“These kiosks, designed as bridges between the traditional world of cash and the digital frontier of blockchain, are now being dismantled, not by market forces but by municipal lawmakers,” said Gorbunov. “If we ban crypto ATMs because scammers used phones to trick people into using them, why not ban phones? Last year, fraudsters stole $24.3 billion globally through traditional payment card fraud alone—$9.37 billion of that in the US. The problem is, and always has been, the sophisticated scammers exploiting human vulnerability and a massive gap in public understanding.”
According to the Federal Trade Commission (FTC), consumers in the United States reported losing over $12.5 billion to fraud in 2024, marking a 25% increase from 2023. While the number of reports remained relatively stable, a higher percentage resulted in monetary loss (38% compared to 27% in 2023). The agency highlights imposter and investment scams as significant issues and calls for stronger education and enforcement efforts, emphasizing that fraud is prevalent even within traditional financial channels.
CoinFlip, an operator of a major U.S. crypto-kiosk network, has implemented several measures to combat scams. These include on-screen scam warnings, a “Safe in Six” decision pause, and 24/7 live support designed to prevent suspicious transfers before they occur. In testimony to lawmakers, CoinFlip reported that its trained agents intercepted and blocked over 300 suspected scam transactions between December 2023 and February 2024. This demonstrates how real-time questioning and compliance escalation can reduce losses at the endpoint.
Athena Bitcoin also takes steps to educate users about potential scams by displaying prominent on-screen prompts at kiosks. The company maintains a public fraud-education hub with step-by-step checklists and examples of common scams. It also operates a formal complaint process to document and investigate reports. Users are advised to slow down, avoid pressured payments, and verify wallet ownership, showcasing how transparency and education can mitigate risks without resorting to blanket bans.
Gorbunov is noted for his leadership across crypto-fiat platforms such as Choise.com/Crypterium. His expertise includes product and compliance oversight as well as active authorship on digital-asset consumer protection. His professional profile highlights his focus on building teams, partnerships, and scalable payment products—context for his commentary advocating smarter safeguards and education within the web3 ecosystem.