Overview
- FBI Internet Crime Complaint Center data show more than 12,000 complaints and about $333.5 million in losses tied to Bitcoin ATMs from January through November 2025, a record high.
- Scammers frequently impersonate banks or companies and pressure victims to deposit cash at kiosks that convert funds to crypto sent to fraudsters’ wallets.
- Reports describe escalating tactics such as AI-generated voice deepfakes and fake emergencies, with older adults often targeted.
- FTC figures show people 60 and over bore a large share of harm, accounting for 71% of reported Bitcoin ATM losses in the first half of 2024, totaling $46 million.
- Regulatory focus is shifting from warnings to tighter oversight, with DFPI issuing public guidance and agencies like FinCEN and state regulators considering transaction caps and enhanced monitoring, echoing limits seen in Australia.