Tasmania Scammers Steal $1.5 Million via Crypto ATMs in Three Months

Scammers in Tasmania have exploited the region's 28 cryptocurrency ATMs to steal over $1.5 million from residents in just three months this year. These machines, which allow users to deposit cash in exchange for cryptocurrencies like Bitcoin and Ethereum, have become a popular tool for fraudsters targeting older Australians. According to the Australian Transaction Reports and Analysis Centre (AUSTRAC), most users of crypto ATMs in Australia are over 50, with those aged 60 to 70 being particularly active, despite only 8.2% of baby boomers owning cryptocurrency.

The Tasmanian Police revealed that victims were manipulated, intimidated, and pressured into sending money through crypto ATMs as part of fake investment opportunities and online romance scams. Detective Sergeant Paul Turner emphasized that these transactions are nearly irreversible, making them a favorite among cybercriminals. Common scams include romance scams, fake investment opportunities, tech support fraud, and job opportunity scams.

Advocates at the Consumer Action Law Centre argue that crypto ATMs have no legitimate use in Australia and should be banned. Pavithra Jayasekera, a policy officer, stated that the consumer harm associated with these machines far outweighs any legitimate benefit. Since 2025, AUSTRAC has required crypto ATM operators to implement deposit and withdrawal limits, as well as warnings to alert users to potential scams. Operators claim they are following these rules and adding extra measures to protect users.

Police and advocates urge suspicion of any unknown person asking to use a crypto ATM to send money, as it is likely a scam. Jayasekera noted that no legitimate business or government agency would request such transactions. Detective Sergeant Turner advised seeking advice from trusted sources before proceeding with any suspicious transactions and always following bank advice.