$330 million stolen in 2025: US Bitcoin ATMs become a major scam hotspot, is a regulatory storm approaching?

The US Bitcoin ATM network is facing unprecedented regulatory pressure. Recent data shows that by 2025, losses related to Bitcoin ATM scams in the US have reached $333 million, turning this infrastructure originally designed to improve accessibility to crypto assets into a high-risk channel for financial fraud.

According to the Federal Bureau of Investigation (FBI), between January and November 2025 alone, over 12,000 scam complaints related to cryptocurrency ATMs were recorded. The Financial Crimes Enforcement Network (FinCEN) further pointed out that the number of suspicious activity reports (SARs) related to Bitcoin ATMs nearly doubled compared to the previous year, with risks rapidly accumulating.

Bitcoin ATMs have become hotspots for scams primarily due to their “cash-to-crypto” feature. Scammers often impersonate government agencies, tech support, or bank staff via phone or SMS to lure victims to deposit cash at ATMs in gas stations, convenience stores, and other locations. The machines then exchange the cash for Bitcoin and immediately transfer it to the scammer’s wallet. This process is irreversible, completely bypassing traditional banking mechanisms such as stop payments and chargebacks.

Worse still, the victims are highly concentrated among the elderly. FBI data shows that individuals over 60 account for a significant portion of the victimized amount. These scams often use phrases like “account anomaly,” “urgent action,” or “fund protection,” combined with the offline presence of Bitcoin ATMs to lower victims’ guard.

In response to this runaway trend, US regulators are beginning to adjust their strategies. The California Department of Financial Protection and Innovation (DFPI) has issued a special warning framework targeting Bitcoin ATM scams, clearly stating that any behavior requiring cash deposits via cryptocurrency ATMs to resolve issues can almost certainly be classified as fraud.

Policy attitudes are also shifting. Regulators are moving beyond public education to discuss more binding measures, including transaction limits, device density controls, and stricter operational compliance requirements. Similar approaches have been implemented in countries like Australia, where limiting daily transaction amounts and the number of ATMs has significantly reduced scam incidents.

In the current context, keywords such as Bitcoin ATM scam risks, tightening cryptocurrency regulations, and elderly financial security are becoming central to US crypto policy discussions. Industry analysts generally believe that without structural regulatory intervention, the compliance environment and survival space for the Bitcoin ATM network will face substantial challenges.