Crypto ATM scams surge as losses hit $333M

A new report from CertiK warned that fraud involving cryptocurrency ATMs is rising sharply across the United States.

Criminals stole an estimated $333.5 million through crypto ATM scams in 2025, highlighting growing risks tied to cash-to-crypto kiosks.

These machines allow users to convert cash into digital assets within minutes, often with minimal identity verification.

According to the report, the United States hosts around 78% of the world’s roughly 45,000 crypto ATMs, making it the largest global market for the technology.

The Federal Bureau of Investigation received more than 12,000 complaints related to crypto ATM fraud between January and November 2025, representing a 33% increase from the previous year.

Many scams involve social engineering tactics, where criminals persuade victims to deposit money under false pretences such as government impersonation, tech support fraud or emergency requests.

Older adults were the most affected demographic, accounting for approximately 86% of total losses tied to crypto ATM scams.

Security researchers said organised criminal networks increasingly use tools such as artificial intelligence and deepfake technology to make fraud attempts more convincing.