FBI Warns of $389 Million in Crypto ATM Scams, Targets Older Adults
Crypto ATM scams have been on the rise, with over $389 million lost in 2025, according to the FBI. These scams often involve a phone call from a fraudster claiming to be an official, who will try to frighten the victim into depositing cash into a crypto ATM and purchasing Bitcoin or another cryptocurrency.
The scam is designed to play on the victim's anxiety, with the caller claiming that their bank account has been accessed or that their identity or account is being used for criminal activity. They may also claim that the victim's computer is infected and must be fixed immediately.
The goal of the scam is to get the victim to deposit cash into a crypto ATM, which can then be transferred to the scammer's account. Once the funds are gone, they are extremely difficult to recover due to the anonymity of cryptocurrency transactions.
To avoid falling victim to these scams, it is essential to be cautious when receiving unsolicited phone calls or messages. Never respond to a call from someone claiming to be an official, and never deposit cash into a crypto ATM at their request.