What happened with Rockitcoin in the scam incident?
Hi everyone, Rockitcoin ATMs are a major scam.
When I found out there was a Bitcoin ATM in my town, I decided to give it a try. I knew there might be issues, but I didn’t expect it to be this bad. I used a $20 bill at the Rockitcoin machine, which immediately informed me of a $1 fee, seems reasonable since they need to make a profit.
When I checked my balance at home, it showed $15. I’m not a math expert, but that’s about a 25% fee. According to their website, the fee should be 6%. I contacted support, and they told me there’s an additional 18% fee on top of the $1 charge.
Maybe I’m just now discovering how big of a scam Bitcoin ATMs can be, but I was still shocked despite expecting some sort of scam. Imagine if someone like grandma put $300 of Timmy’s Christmas money into one of these ATMs, thinking she was buying crypto for him.
Sorry for the rant.