Crypto ATMs Scam Losses Soar to $388 Million, CFTC Issues Warning
The US Commodity Futures Trading Commission (CFTC) has issued an advisory warning consumers about the rising threat of crypto ATM scams. The number of reported losses in these scams jumped to over $388 million in 2025, nearly double the $247 million reported in 2024.
According to FBI complaint data, more than 13,400 related complaints were filed in 2025 alone. This surge in scams has led the CFTC to issue a warning about the potential for losses and highlight the unique risks associated with crypto ATMs.
Crypto ATMs work by converting cash into digital currency, which is then sent directly to a user's wallet via the blockchain. The process is immediate and irreversible, making it difficult for users to recover their funds if they are scammed.