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Crypto ATM Fraud Doubles to $240M as Cities Ban Machines
Fraudsters exploited cryptocurrency ATMs nationwide, causing $333 million in losses in 2025, doubling the previous year's rate, prompting local bans and regulatory debates.
- This year the Federal Bureau of Investigation reported $240 million lost to cryptocurrency ATM scams in the first six months of this year, with FBI data accessed by ABC News showing losses surged to $333.5 million from January to November 2025.
- Speed and irreversibility of crypto transactions make bitcoin teller machines a magnet for fraud, as scammers manipulate victims into depositing cash at BTMs that convert it to cryptocurrency sent to their wallets, while the United States hosts 80 percent of the world's crypto ATMs.
- In Spokane, the city council voted to ban crypto ATMs last year, following Stillwater, Minnesota, with Spokane businesses given 60 days to remove around 50 machines.
- Victims' stories include people losing life savings and worse, with Spokane Police Detective Tim Schwering saying elderly or lonely victims are targeted; a 73-year-old woman lost $77,000, a man lost $900,000, and two victims took their own lives.
- The House Insurance & Banking subcommittee supports BH 505, which would require warnings and cap deposits at $2K for new and $10,500 for existing customers, with industry leaders emphasizing enforcement and education.
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35 Articles
35 Articles
Bitcoin ATM Scams Skyrocket In 2025, Americans Defrauded Of Over $333 Million: Report
The Federal Bureau of Investigation revealed that scammers have defrauded Americans of more than $300 million in 2025 through Bitcoin (CRYPTO: BTC) ATMs, according to a report published on Tuesday. Trend Is ‘Not Slowing Down’ The FBI has observed a “clear and constant rise” in fraudulent transactions involving cryptocurrency kiosks, a trend that is “not slowing down,” reported ABC News, quoting a bureau spokesperson. Losses caused by ATM fraudst…
·New York, United States
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Coverage Details
Total News Sources35
Leaning Left2Leaning Right0Center6Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
L 25%
C 75%
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