Vladimir Gorbunov, founder of Choise.ai, has expressed concerns regarding proposed bans and strict regulations on cryptocurrency ATMs. He argues that these measures misdiagnose the issue, which he identifies as sophisticated scamming and inadequate public education rather than the machines themselves. Gorbunov made this statement in a post 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 enhanced education and enforcement, 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 fraud. These include on-screen scam warnings, a “Safe in Six” decision pause, and round-the-clock live support designed to prevent suspicious transfers before they occur. In testimony before 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 employs similar strategies by displaying prominent on-screen scam prompts at kiosks and maintaining a public fraud-education hub with step-by-step checklists and examples of common scams. The company also runs a formal complaint process to document and investigate reports. Their guidance advises users to slow down, avoid pressured payments, and verify wallet ownership, illustrating how transparency and education by operators can mitigate risk without resorting to blanket bans.
Gorbunov is not only the founder of Choise.ai but also a serial fintech entrepreneur with experience across various crypto-fiat platforms such as Choise.com/Crypterium. His LinkedIn profile highlights his leadership roles in product compliance oversight and digital-asset consumer protection authorship. His background provides context for his advocacy for smarter safeguards and education within the web3 ecosystem.
