FBI Warns Of Rising Bitcoin ATM Fraud: Americans Lose Over $330 Million In 2025
The Federal Bureau of Investigation (FBI) has lately raised alarms concerning the growing variety of cryptocurrency scams, notably these involving Bitcoin ATMs.
Crypto Requests Now Top Choice For Criminals
According to a report from ABC News, the newest statistics from the FBI point out a “clear and fixed rise” in fraudulent transactions related to cryptocurrency kiosks, a pattern the bureau notes is “not slowing down.”
In 2024, scammers perpetrated roughly $250 million in losses, which was greater than double the quantity reported within the earlier yr. By November 2025, that quantity had surged to $333.5 million.
There are over 45,000 Bitcoin ATMs throughout the US permitting customers to convert cash into crypto and ship it to wallets globally. However, as soon as the cash is shipped, specialists warn that restoration is sort of inconceivable, making the machines interesting instruments for fraudsters.
“Requesting crypto is now the No. 1 most popular methodology of criminals,” acknowledged Amy Nofziger, director of fraud sufferer assist at AARP (previously American Association of Retired Persons), in an October interview with ABC News. “It is a large downside.”
Law enforcement has taken discover of the escalating fraud. In September, the legal professional basic’s workplace in Washington, D.C., filed a lawsuit in opposition to Athena Bitcoin, a serious supplier of Bitcoin ATMs within the nation.
The swimsuit alleges the corporate pocketed “tons of of hundreds of {dollars} in undisclosed charges on the backs of rip-off victims.” 93% of the transactions made by Athena’s machines within the district have been allegedly linked to outright fraud, with victims typically being older people, the median age being 71.
Athena Bitcoin has strongly refuted these allegations, stating that it implements strong safeguards in opposition to fraud, together with clear directions and client schooling. The firm additionally remarked, “Just as a financial institution isn’t held accountable if somebody willingly sends funds to another person, Athena doesn’t management customers’ selections.”
17 States Move To Regulate Or Ban Bitcoin ATMs
In response to the rising tide of scams, AARP has referred to as for stricter regulations on Bitcoin ATMs, suggesting measures resembling day by day deposit caps to guard shoppers.
At least 17 states have enacted laws lately to control these Bitcoin ATM machines within the nation, whereas some native governments have moved towards banning them fully.
New Jersey state Senator Paul Moriarty, who sponsored a invoice to ban Bitcoin ATMs within the state, expressed robust issues concerning their affect.
“These machines are nothing greater than conduits for fraud and legal exercise. Period,” he acknowledged. “There’s no different use for them, as a result of in case you needed to purchase cryptocurrency you would purchase it someplace else for much less.”
In protection of their operations, corporations like Bitcoin Depot have acknowledged that whereas scams do happen, they characterize solely a small portion of general transactions.
At the time of writing, Bitcoin was buying and selling at $88,613, marking a slight achieve of 1.5% previously 24 hours and a pair of% previously seven days. However, it’s nonetheless unable to surpass and consolidate above the important thing $90,000 mark, which is performing as an important resistance wall within the close to time period.
Featured picture from DALL-E, chart from TradingView.com
