Texas Crypto Kiosk Scams Cost Texans $56M

Texas reported more cryptocurrency kiosk-related losses than any other state in 2025, with Texans losing roughly $56.8 million, according to FBI data.

Cryptocurrency kiosks are ATM-like electronic devices that allow individuals to exchange cash and cryptocurrency, a digital form of currency.

The Texas House of Representatives Committee on Homeland Security, Public Safety & Veterans' Affairs met to discuss financial influences from foreign countries and their effect on Texans. Lawmakers pointed to cryptocurrency-related activity as an issue, with State Representative AJ Louderback stating 'In my career, I've never seen a more efficient, cleaner way to steal money.'

Kelley Currie, a founding partner of Kilo Alpha Strategies, emphasized the magnitude of financial crimes across the globe, stating that 'Scamming is now treated by INTERPOL as an industry, a criminal industry in its own right, comparable to drug trafficking and human trafficking in terms of the size of organized crime revenue it generates.'

The Department of Justice has documented specific cases where Chinese Transnational organizations have been linked to cryptocurrency-related scams and money laundering in the United States.