Bitcoin ATM fraud climbed to unprecedented levels in 2025, with scammers stealing roughly $333 million from victims, according to the Federal Bureau of Investigation. More than 10,000 people reported falling victim to these schemes in a single year, and older adults were by far the most heavily impacted. Figures from the Federal Trade Commission show that losses linked specifically to bitcoin ATMs have more than doubled since 2022.
In many cases, scammers impersonate banks, government agencies, or well-known companies, claiming they’ve detected suspicious activity on a victim’s account. Victims are then pressured to “secure” their money by depositing cash into a bitcoin ATM, a step that actually transfers the funds directly to the scammers’ wallets. The sense of urgency is deliberate, designed to prevent people from verifying the request.
The rise in fraud has coincided with the rapid spread of bitcoin ATMs across the United States. By 2024, there were more than 30,000 machines nationwide, accounting for over 80% of all bitcoin ATMs worldwide. As access has grown, so has misuse. FBI data shows more than 12,000 complaints and over $333 million in reported losses between January and November 2025 alone, marking a sharp increase from previous years.
FTC data highlights how severe these scams can be. By mid-2024, the median loss from cryptocurrency fraud was about $5,400, far higher than the median loss from general fraud, which stood at $447. Reported bitcoin ATM losses rose from $78 million in 2022 to $114 million in 2023, before spiking again in 2025.
While victims span all age groups, seniors are especially vulnerable. People aged 60 and older accounted for more than 70% of reported bitcoin ATM losses in early 2024, losing tens of millions of dollars. Authorities continue to stress that legitimate businesses and government agencies will never demand payment in bitcoin and urge consumers to slow down, verify contacts independently, and be cautious of any request that involves urgency or secrecy.