Crypto ATM Scams Swamp $388M in 2025

Crypto ATMs are increasingly being used by scammers to trick victims into making urgent cash withdrawals, which are then converted into cryptocurrency and sent to criminals' wallets.

The losses linked to these scams rose 58% to over $388 million in 2025, with older adults disproportionately affected. The scammers often impersonate officials and use QR codes to route funds to criminal wallets, making recovery difficult.

Banks can detect fraud through suspicious withdrawal patterns and blockchain analytics, while regulators in the US and other countries are imposing stricter rules to curb these scams.