The Scale of the Scam
The FBI has reported that Americans lost over $388 million to scams involving cryptocurrency kiosks, commonly known as crypto ATMs or Bitcoin ATMs, in 2025. This marks a 58% increase in losses compared to the previous year, with the number of complaints rising 23% to more than 13,400 reports filed through the FBI’s Internet Crime Complaint Center (IC3). The majority of victims were over 50 years old, accounting for more than $302 million in losses. Crypto ATMs are physical terminals found at gas stations, convenience stores, and other public locations, allowing users to exchange cash for cryptocurrency. Scammers direct victims to deposit cash into these machines, which then transfers the funds to attacker controlled wallets.
Who Is Most Affected and Protective Measures
Texas, Florida, and California residents filed over 3,300 complaints combined, with total losses exceeding $112 million. Several states, including Minnesota, Indiana, and Tennessee, have recently banned or restricted cryptocurrency kiosk operations in response to the growing fraud. The FBI advises consumers to never send money to someone they have only met online, avoid scanning QR codes or following payment instructions from strangers, and always verify phone calls independently. Additional precautions include being suspicious of anyone claiming to be from the government or law enforcement who demands cryptocurrency payments, heeding warnings from kiosk operators about potential fraud, and keeping receipts for all crypto transactions.
Source: BleepingComputer
