FBI Reveals $333 Million Stolen in Crypto ATM Scams During 2025 Amid Rising Fraud Wave
WASHINGTON, D.C. – Scammers defrauded Americans out of more than $333 million through cryptocurrency ATM scams in 2025, marking a significant escalation from the previous year, according to the latest FBI data.
The Federal Bureau of Investigation reported that losses from these scams surged from approximately $250 million in 2024 to over $333 million in 2025, a trend described by an FBI spokesperson as a “clear and constant rise” that shows no signs of abating. This sharp increase underscores the growing vulnerability of cryptocurrency kiosks, often referred to as Bitcoin ATMs, which allow users to deposit cash in exchange for digital assets like Bitcoin.
How the Scams Operate
Crooks exploit crypto ATMs because transactions are irreversible and nearly instantaneous, making it impossible for victims to recover funds once the money is converted to cryptocurrency and sent to scammers’ wallets. Fraudsters typically contact victims via phone, email, or fake pop-up alerts on computers, impersonating bank officials, government agencies, or even high-profile figures like former President Donald Trump.
In one harrowing case highlighted by South Florida’s WPBF 25 News, a local man nearly lost $50,000 after receiving a fraudulent computer link claiming his bank account was compromised. The scammer, posing as a bank representative, instructed the victim to withdraw cash and deposit it into a crypto ATM. Police intervened just in time, shouting, “Stop putting money in. Stop. OKAY. It’s not Chase Bank.”
Common red flags include urgent demands for payment, requests to wire money or send cryptocurrency, and pressure tactics playing on emotions. Authorities emphasize that no legitimate bank, business, or government agency will ever ask individuals to pay via crypto ATMs or create a sense of panic.
Targeting the Vulnerable
Demographic data reveals a disturbing pattern: scammers disproportionately target older Americans. A lawsuit against Athena Bitcoin, a major crypto ATM operator, claims that 93% of transactions on its machines stem from fraud, with victims having a median age of 71. The Washington, D.C. Attorney General accused the company of pocketing hundreds of thousands in undisclosed fees from these scams.
Athena Bitcoin defended itself, stating it has “strong safeguards against fraud, including transparent instructions, prominent warnings, and customer education.” A company representative argued, “Just as a bank isn’t held responsible if someone willingly sends funds to someone else, Athena does not control users’ decisions.”
Government Crackdowns and Local Actions
In response to the crisis, governments at various levels are taking action. St. Paul, Minnesota, voted to ban crypto ATMs outright, while Lincoln, Nebraska, mandates fraud warning signs at all machines. Multiple states and cities are debating or enacting regulations to curb the proliferation of these kiosks.
Earlier in 2025, a dramatic intervention occurred when a sheriff’s office in an undisclosed location used a power tool to extract nearly $32,000 from a Bitcoin Depot ATM after securing a warrant. The victim, however, faces a lengthy legal process to reclaim the funds, and the company threatened to seek damages, noting each machine costs around $14,000.
| Year | Reported Losses | Change from Previous Year |
|---|---|---|
| 2023 | $114 million | First year over $100M |
| 2024 | $247-250 million | Doubled from 2023 |
| 2025 (Jan-Nov) | $333 million+ | ~33% increase |
Broader Context and Warnings
The rise in crypto ATM scams coincides with cryptocurrency’s mainstream adoption, which ironically makes it an attractive vector for fraud. Losses first exceeded $100 million in 2023, doubled in 2024, and continued climbing into 2025 despite increased awareness.
Experts urge vigilance: Verify any urgent financial alerts independently, never share personal information over unsolicited calls, and avoid crypto ATMs for unverified transactions. The FBI and local law enforcement continue to investigate, but the irreversible nature of blockchain transactions means prevention is key.
“This is a clear and constant rise in scams that is not slowing down.” – FBI Spokesperson
As 2026 begins, authorities predict the problem will persist without stricter federal oversight. Victims are encouraged to report incidents to the Internet Crime Complaint Center (IC3) to aid ongoing investigations.
This story is developing as more details emerge from federal reports and local enforcement actions.