Bitcoin ATM scam losses reach $333 million in 2025, FBI reports rising fraud trend

2026-01-05 01:28:32

Source: Yellow Original Title: Bitcoin ATM Fraud Reaches $333 Million in 2025 as FBI Reports Record Losses

Original Link: Bitcoin (BTC) fraud at ATMs reached $333 million in reported losses during 2025, according to FBI data published this week.

The Internet Crime Complaint Center of the agency received over 12,000 reports related to cryptocurrency kiosk scams between January and November.

An FBI spokesperson told ABC News that the trend represents a “clear and steady increase” that “is not slowing down.”

The figure marks a significant rise from $250 million in 2024 and $114 million in 2023.

What happened

Scammers often impersonate banks or companies and claim there is suspicious activity on victims’ accounts.

They instruct targets to deposit cash at Bitcoin ATMs to “secure” their funds or resolve the supposed issue.

The money is transferred irreversibly to the scammers’ digital wallets within minutes.

Currently, there are more than 45,000 Bitcoin ATMs operating across the United States, according to FBI estimates.

Washington D.C.'s Attorney General sued Athena Bitcoin in September, alleging that 93% of transactions on their devices “are the result of outright fraud.”

The lawsuit states that the average age of victims was 71 years old.

Why it matters

Senior Americans face a disproportionate target, with victims aged 60 or older losing $46 million in the first half of 2024 alone.

Scammers increasingly use AI-generated fake voices to impersonate family members claiming emergency situations.

The Federal Trade Commission reported that cryptocurrency fraud causes median individual losses of ($5,400) compared to general fraud ($447).

Several municipalities have responded with regulations, including St. Paul, Minnesota, which voted to ban these devices entirely.

Athena Bitcoin denied wrongdoing, stating that it maintains “strong safeguards against fraud, including transparent instructions, prominent warnings, and consumer education.”

The FTC advises verifying contacts directly with financial institutions and avoiding rushed transactions when someone requests deposits at Bitcoin ATMs.

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