The FBI has reported alarming trends in Bitcoin ATM fraud, with scammers successfully extracting a staggering $333 million from victims in 2025 alone. The agency’s Internet Crime Complaint Center (IC3) disclosed that more than 10,000 individuals fell victim to this type of fraud during the year.
Fraudsters typically impersonate legitimate banks or companies, misleading victims into believing there is suspicious activity on their accounts. They then instruct the victims to deposit funds into a Bitcoin ATM to either protect their finances or resolve the supposed issue. Unfortunately, the deposited money is diverted to the scammers’ accounts.
The rise of Bitcoin ATMs in the United States has contributed to this surge in scams, with over 30,000 machines operational as of 2024, representing approximately 81.27% of all Bitcoin ATMs worldwide. From January to November 2025, the IC3 received over 12,000 reports related to Bitcoin ATM fraud, highlighting a marked increase in financial losses from previous years. In comparison, the Federal Trade Commission (FTC) noted that Bitcoin ATMs accounted for $114 million in reported losses in 2023 and $78 million just the year prior.
The FTC has cautioned consumers about the dangers of cryptocurrency scams, emphasizing that these schemes can often lead to more severe financial impacts than other forms of fraud. They have urged the public to verify contact information when approached by purported representatives of banks or companies and to exercise caution during transactions, as scammers frequently pressure victims for quick actions.
The rise of cryptocurrencies and the increasing number of Bitcoin ATMs have intensified scrutiny from regulatory bodies, highlighting the need for increased public awareness and protective measures against these sophisticated scams.
