Lucy King

Financial Review journalist who investigated crypto ATMs and reported the 85‑year‑old 'Mary' crypto scam story, providing data on transactions, fees and regulatory gaps.

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Oct 29, 2025 • 31min

‘He ruined me’: How one crypto investor lost $500k in a scam

Journalist Lucy King, known for her investigative work on crypto scams, and Senior Financial Review reporter James Ayres delve into the alarming rise of crypto ATMs that enable scammers, like the case of 85-year-old Mary who lost $500,000. They explore how crypto ATMs operate, why they are prevalent in Australia, and the emotional manipulation behind Mary's scam journey. Additionally, they discuss regulatory gaps and rising scam statistics, shedding light on Australia's vulnerability to such fraud.

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