Overview
- The FBI tallied $333.5 million in crypto ATM fraud from January through November 2025, up from roughly $250 million in all of 2024.
- Older Americans are heavily targeted, with IC3 data showing about 43% of reported crypto ATM losses coming from people over 60.
- Attorneys general in Washington, D.C., and Iowa sued major operators, alleging undisclosed fees and exploitation of scam victims; the companies deny wrongdoing and cite consumer warnings and ID checks.
- States and cities advanced restrictions or bans and FinCEN issued an urgent warning, while a federal bill to cap transactions and require refunds has not advanced.
- Recoveries remain difficult due to irreversible transfers, highlighted by an incident where Texas sheriffs cut open a kiosk to seize cash and Iowa Supreme Court rulings enforcing operators’ user agreements.