Bitcoin (BTC) ATM fraud reached $333 million in reported losses during 2025, according to FBI data released this week.
The agency's Internet Crime Complaint Center received over 12,000 complaints related to cryptocurrency kiosk scams between January and November.
An FBI spokesperson told ABC News the trend represents a "clear and constant rise" that is "not slowing down."
The figure marks a significant increase from $250 million in 2024 and $114 million in 2023.
What Happened
Scammers typically impersonate banks or companies and claim suspicious activity on victims' accounts.
They instruct targets to deposit cash into Bitcoin ATMs to "secure" their funds or resolve the purported issue.
The money transfers irreversibly to scammers' digital wallets within minutes.
More than 45,000 Bitcoin ATMs currently operate across the United States according to FBI estimates.
Washington D.C.'s Attorney General sued Athena Bitcoin in September, alleging 93% of transactions on its devices "are the product of outright fraud."
The lawsuit claims the median age of victims was 71 years old.
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Why It Matters
Elderly Americans face disproportionate targeting, with victims aged 60 and above losing $46 million in the first half of 2024 alone.
Scammers increasingly use AI-generated deepfake voices to impersonate family members claiming emergency situations.
The Federal Trade Commission reported cryptocurrency fraud causes higher median individual losses ($5,400) compared to general fraud ($447).
Several municipalities have responded with regulations, including St. Paul, Minnesota voting to ban the devices outright.
Athena Bitcoin denied wrongdoing, stating 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 Bitcoin ATM deposits.
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