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FBI Warns: Crypto ATM Scams Skyrocket
1 Jan
Summary
- Cryptocurrency ATM scams saw fraudulent transactions exceed $333.5 million by November 2025.
- 93% of transactions on Athena Bitcoin machines in D.C. were linked to fraud.
- AARP advocates for stricter Bitcoin ATM regulations, like daily deposit caps.
Federal Bureau of Investigation (FBI) reports indicate a significant and ongoing surge in cryptocurrency scams, with Bitcoin ATMs emerging as a favored method for criminals. These machines, exceeding 45,000 nationwide, allow swift cash-to-crypto conversions, presenting a challenge for victims seeking fund recovery.
Fraudulent activities linked to these kiosks have dramatically increased, with losses escalating from approximately $250 million in 2024 to over $333.5 million by November 2025. This trend highlights the growing appeal of crypto ATMs to scammers. In response, authorities are taking action, including a lawsuit against Athena Bitcoin alleging substantial undisclosed fees on victims.
To combat this rising tide of fraud, organizations like AARP are pushing for stricter regulations, proposing measures such as daily deposit limits. At least 17 states have introduced legislation, and some localities are considering outright bans on these machines, viewing them as conduits for illicit activities.
