Texas Cryptocurrency Kiosk Scams Linked to Foreign Adversaries

Texas has 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. They have increasingly been used in scams where criminals persuade victims to withdraw money from their bank accounts and deposit cash into a kiosk.

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, with one state representative saying, 'In my career, I've never seen a more efficient, cleaner way to steal money.'

A founding partner of a geopolitical advisory firm testified that scamming is now treated by INTERPOL as an industry comparable to drug trafficking and human trafficking in terms of the size of organized crime revenue it generates.