Crypto ATM scams are on the rise, targeting people from all walks of life and costing victims hundreds of millions of dollars each year. These scams exploit the increasing popularity of cryptocurrency ATMs, which allow users to buy or sell digital currencies quickly using cash. Unfortunately, the convenience of these machines has made them a favored tool for scammers seeking to move stolen funds with speed and anonymity.
Scammers use a variety of tactics to trick victims into sending money through crypto ATMs. They may impersonate law enforcement, bank officials, tech support agents, or even potential romantic interests. Victims are often contacted by phone, email, social media, or text messages and told a convincing story—such as an urgent need to pay a fine, invest in a limited-time offer, or secure their bank accounts. The scammers then instruct the victim to withdraw cash from their accounts and deposit it into a cryptocurrency ATM, sending funds to a wallet controlled by the scammers.
Many victims are unaware they’ve been scammed until it’s too late. These transactions are typically not reversible, and because funds quickly move to overseas crypto exchanges, recovering lost money is nearly impossible. Seniors and those unfamiliar with cryptocurrency are particularly vulnerable, with people over the age of 50 making up a significant portion of victims and total transaction value.
Recent data highlights the scale of the problem. In the United States, Americans lost nearly $250 million to crypto ATM fraud in 2024, with losses accelerating in 2025. Cases have surged across local communities, and each incident can result in substantial financial loss, often averaging tens of thousands of dollars per victim.
The growing prevalence of crypto ATM scams has led to legislative interest and increased calls for regulation. Some advocate for limiting transaction sizes, imposing stricter operator requirements, or mandating more consumer warnings at ATM locations. Community education, particularly among older adults, is also a priority, with initiatives designed to help people recognize common scam tactics and understand how to report suspicious activity.
To avoid falling victim to a crypto ATM scam, be alert for urgent requests to withdraw or transfer money for unfamiliar reasons, especially when asked to use a cryptocurrency ATM. No legitimate organization—government, law enforcement, or financial institution—will ever demand payment via cryptocurrency. If you receive such a request, stop, take a moment to verify the source independently, and seek help from trusted authorities before proceeding. Staying informed and cautious is the best defense in a world where crypto scams continue to evolve.