The Federal Bureau of Investigation revealed that scammers have defrauded Americans of more than $300 million in 2025 through Bitcoin (CRYPTO: BTC) ATMs, according to a report published on Tuesday.
Trend Is ‘Not Slowing Down’
The FBI has observed a “clear and constant rise” in fraudulent transactions involving cryptocurrency kiosks, a trend that is “not slowing down,” reported ABC News, quoting a bureau spokesperson.
Losses caused by ATM fraudsters in 2024 amounted to approximately $250 million. This figure has surged to $333.5 million from January to November 2025, according to the bureau’s data accessed by ABC News.
Benzinga contacted the FBI to corroborate these figures. The story will be updated once they respond.
See Also: Top 5 Bitcoin and Crypto Scams in 2025
A Bitcoin ATM is a kiosk that allows users to exchange cash for Bitcoin or other cryptocurrencies, or sell cryptocurrency for cash, using a digital wallet. Bitcoin Depot Inc. (NASDAQ:BTM), one of the world’s largest operators of cryptocurrency ATMs, remains popular in North America.
Cryptocurrency ATM Fraud: A Growing Epidemic?
The issue of Bitcoin ATM scams has been a growing concern in the U.S.
Earlier in the year, Sen. Cynthia Lummis (R-Wyo.) expressed her apprehensions over the surge in fraudulent activities involving cryptocurrency kiosks, particularly in her home state of Wyoming. She hoped to address the issue in the cryptocurrency market structure bill.
The modus operandi involves scammers manipulating victims into using these kiosks to deposit cash. The cash is converted to cryptocurrency and sent directly to the scammer’s wallet.
A report by the Federal Trade Commission last year detailed how scammers have been stealing money from unsuspecting people via Bitcoin ATMs and how they may protect themselves.
Despite warnings from law enforcement, victims continue to fall prey to these scams. A case in point is a 71-year-old woman in Westlake who lost thousands of dollars to a scammer at a cryptocurrency ATM in December, even after being cautioned by the police and store staff.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: PV productions on Shutterstock.com
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