TL;DR:
- The FBI’s Internet Crime Complaint Center (IC3) recorded over 13,460 complaints and $388.9 million in losses linked to cryptocurrency kiosks in 2025.
- Financial losses associated with this method grew by 58% compared to 2024 records.
- Victims over the age of 50 accounted for more than $302 million of the total stolen during the analyzed period.
The Commodity Futures Trading Commission (CFTC) warned consumers that requests to make payments via cryptocurrency ATMs are likely fraudulent schemes.
The regulatory agency issued the consumer protection alert after assessing annual digital fraud statistics. Data collected by the FBI shows that funds diverted through physical kiosks increased by 58% in 2025 compared to the previous year. The CFTC report points out that no government agency, legitimate banking entity, or corporation requests deposits through digital asset terminals.
According to authorities, the cybercriminals’ modus operandi involves impersonating tax authorities, banks, or technical support to threaten users with account freezes. Official sources indicate that attackers guide victims over the phone to the nearest physical kiosk. Once on-site, they provide QR codes linked to external wallet addresses controlled by the scammers.
Unlike a traditional ATM, these machines convert cash directly into intangible currencies and transfer them to the blockchain network. The CFTC explained that once the transaction is confirmed on the blockchain, operations are immediate and irreversible. This technical characteristic prevents financial institutions from canceling payments or reversing funds once issued.
Impact on Older Adults and Regulatory Response
FBI records show that individuals over the age of 50 accounted for more than half of the complaints received in 2025. This demographic reported a financial impact exceeding $302 million in cumulative losses. Likewise, users aged 60 and older filed 6,188 specific complaints, totaling more than $257 million stolen.
Federal Trade Commission (FTC) investigations suggest that older adults face higher exposure to impersonation scams due to the use of psychological intimidation tactics. The authority noted that criminals instruct victims to split amounts across different terminals or memorize evasive answers to questions from store staff.
The deployment of these machines has fluctuated according to Financial Crimes Enforcement Network (FinCEN) records. The kiosk fleet in the United States grew from 4,128 terminals in January 2019 to 37,342 units recorded by the end of January 2025. However, industry data indicates that during July 2026, more than 10,300 ATMs were removed from U.S. territory due to increased regulatory pressure.
Several states implemented operational restrictions to mitigate these crimes. In August 2026, Minnesota authorities ordered the phased removal of cryptocurrency ATMs from public spaces before the end of the year. Meanwhile, Hawaii legislation established a ban on cash deposits at cryptocurrency terminals starting October 1, 2026.
The CFTC urged users to stop any unsolicited communication and verify requests through independent institutional channels. In the event of suspicious transactions, the agency recommended keeping printed receipts, transaction hashes, public addresses, and the physical location of the ATM to file a formal complaint through the CFTC portal and the FBI’s IC3.
