Scammers stole more than $333 million from Americans in 2025 through bitcoin ATM schemes, according to new data from the FBI, marking a sharp increase as cryptocurrency use continues to grow.
Losses Keep Rising
The FBI reported $333.5 million in losses from January through November 2025, up from about $250 million in 2024 and more than double the losses seen the year before. Officials said the trend shows no signs of slowing.
Why Bitcoin ATMs Attract Scammers
There are more than 45,000 bitcoin ATMs across the U.S., allowing users to deposit cash and send it instantly to digital wallets worldwide. Once completed, transactions are often irreversible, making the machines a favored tool for fraudsters.
Consumer advocates say crypto has become the top payment method demanded by scammers.
Elderly Victims and Legal Scrutiny
Authorities have begun cracking down. In September, Washington, D.C.’s attorney general sued Athena Bitcoin, alleging most transactions on its machines involved fraud and that victims were largely seniors. The company denied the claims, saying it provides warnings and safeguards.
Calls for Stronger Regulation
AARP and other advocates are pushing for tighter rules, including daily deposit limits. At least 17 states have passed laws regulating bitcoin ATMs, and some cities have moved to ban them altogether.
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