The Federal Bureau of Investigation said fraudsters in 2025 bilked Americans out of more than $333 million with ruses perpetrated by using Bitcoin ATM machines (BTM), a marked uptick over previous years as the popularity of cryptocurrencies continues to grow.
A BTM, or Bitcoin ATM, is an automated kiosk that allows individuals to buy or sell bitcoin and other cryptocurrencies using cash or debit cards. These machines function much like traditional ATMs, but instead of dispensing cash, they facilitate the transfer of digital currency to and from a user's digital wallet. BTMs are found in various locations across the United States and offer a fast way to convert physical money into cryptocurrency, or vice versa.
The new FBI statistics, which document fraudulent transactions using cryptocurrency kiosks, reflect a "clear and constant rise" that is "not slowing down," a bureau spokesperson reported.[1]
In 2024, scammers caused roughly $250 million in losses, more than double the figure from the previous year. From January through November 2025, that figure was $333.5 million, the bureau said.
There are more than 45,000 bitcoin ATMs nationwide that allow users to insert cash and send it to a digital wallet anywhere in the world. It takes only a few minutes, and once the transaction is executed, experts say, the money can be nearly impossible to recover, making it an attractive method for prospective fraudsters. "Requesting crypto is now the No. 1 preferred method of criminals," Amy Nofziger, AARP's director of fraud victim support, told ABC News in October. "It is a huge problem."
This shift is largely due to the speed, anonymity, and irreversibility of cryptocurrency transactions, making it difficult for law enforcement to trace and recover funds once sent. Criminals exploit these features to quickly move illicit proceeds across borders or convert them into other assets, complicating investigations and victim restitution. As a result, law enforcement agencies and consumer advocates are increasingly warning the public about the dangers of sending cryptocurrency to unknown parties, especially through Bitcoin ATMs.
Authorities have taken notice. In September 2025, the Washington DC, attorney general's office sued Athena Bitcoin, one of the largest bitcoin ATM machine purveyors in the country, accusing it of "pocketing hundreds of thousands of dollars in undisclosed fees on the backs of scam victims."
The lawsuit claims 93% of the transactions on Athena's devices in the district "are the product of outright fraud," and that "the median age of victims was 71 years." Athena forcefully denied those allegations in a statement to ABC News, asserting in part that it maintains "strong safeguards against fraud including transparent instructions, prominent warnings and consumer education. Just as a bank isn't held responsible if someone willingly sends funds to someone else, Athena does not control users' decisions," the statement said.
AARP has advocated for more stringent regulations to protect Americans from scams on bitcoin ATMs, like capping the amount of money a user can deposit in one day. At least 17 states have passed legislation in recent years regulating the machines, and some municipalities have moved to ban them outright.
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[1] https://abcnews.go.com/US/scammers-notched-333-million-bitcoin-atm-scams-2025/
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