Bitcoin ATM-related fraud surged to a record high in 2025, with losses totaling approximately US$333 million, according to new data released by the US Federal Bureau of Investigation (FBI). The figures mark a sharp escalation in cryptocurrency-enabled scams and highlight growing risks linked to the expanding network of bitcoin ATMs across the United States.
The FBI’s Internet Crime Complaint Center (IC3) said more than 10,000 individuals reported falling victim to bitcoin ATM scams during the year, with complaints and financial losses rising significantly compared to previous periods. Between January and November 2025 alone, the IC3 recorded over 12,000 complaints linked to bitcoin ATM fraud, amounting to more than $333.5 million in losses.
Investigators said the most common scam tactic involves fraudsters impersonating banks, government agencies or well-known companies. Victims are falsely told their accounts are compromised or under investigation and are instructed to deposit cash into a bitcoin ATM to “secure” their funds. Once the transaction is completed, the money is transferred directly to wallets controlled by scammers and is typically unrecoverable.
Bitcoin ATM usage has expanded rapidly in recent years. Industry data shows there were more than 30,000 bitcoin ATMs operating in the United States in 2024, representing over 80 percent of all such machines worldwide. Law enforcement officials say the increased accessibility has made the machines an attractive tool for criminals seeking fast, anonymous transfers.
Data from the Federal Trade Commission (FTC) indicates that losses linked to bitcoin ATM fraud have more than doubled since 2022. Reported losses rose from $78 million in 2022 to US$114 million in 2023, before climbing sharply to the 2025 record. The FTC has also warned that cryptocurrency-related scams tend to result in higher individual losses than other forms of fraud, with a median reported loss of US$5,400 by mid-2024, compared with US$447 for general fraud cases.
Older adults remain the most affected group. FTC data shows that victims aged 60 and above accounted for more than 70 percent of bitcoin ATM fraud losses during the first half of 2024, losing an estimated US$46 million in that period alone.
US authorities have renewed calls for public vigilance, stressing that legitimate businesses and government agencies do not request payments via bitcoin or other cryptocurrencies. Regulators continue to urge consumers to verify unexpected requests, avoid urgent payment demands, and report suspected scams to law enforcement agencies.
Crypto markets volatile ahead of key US inflation, jobs data
