Texas Tops Crypto Kiosk Losses as Banning Machine Scams Gains Momentum

Texans reported $56.8 million in crypto kiosk losses in 2025, more than any other state, according to FBI figures presented to a legislative committee.

The state accounted for 1,179 of the 13,460 complaints logged nationally, with reported losses rising 58% to $389 million. These machines convert cash into cryptocurrency and are often found in gas stations and convenience stores across Texas, where there are approximately 4,000 kiosks.

Lawmakers heard from Kelley Currie, an Atlantic Council fellow, who stated that Interpol now treats scamming as an industry comparable to drug and human trafficking. She also claimed that these machines 'are run by Chinese money launderers.'

Jesse Saucillo, deputy commissioner at the Texas Department of Banking, said recovery is nearly impossible once the funds move into an unhosted wallet, which often leads to a mixer, making it 'very hard to get any of that back.'