Texas Tops List for Crypto Kiosk-Related Losses
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. However, they have increasingly been used in scams where criminals persuade victims to withdraw money from their bank accounts and deposit cash into a cryptocurrency 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 representative stating that 'I've never seen a more efficient, cleaner way to steal money.'
Kelley Currie, a founding partner of Kilo Alpha Strategies, 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.