Bitcoin ATM fraud hit $333 million in losses in 2025, the FBI said. Over 10,000 people have fallen victim to bitcoin ATM scams, with older adults being the most affected. Bitcoin ATM fraud losses have more than doubled since 2022, according to FTC data. “Based on IC3 reporting, data shows from January to November of 2025 there are over 12,000 complaints and over $333.5 million in monetary losses, an increase compared to the same time span last year,” the FBI said in a statement emailed to Business Insider.
In most cases of bitcoin ATM fraud, scammers impersonate either a company or a bank and flag supposed suspicious activity on the victim’s account, advising them to deposit money into a bitcoin ATM to protect their funds or remedy the issue. That money then goes directly into the scammers’ account. Bitcoin ATMs have increased in popularity in the US, with over 30,000 machines in 2024, which is about 81.27% of the bitcoin ATMs in the world, according to Finance Magnates. In 2024, the FTC reported that cryptocurrency scams in particular can be more financially devastating than other types of fraud.
The FTC urges people to pay close attention to any red flags when contacted by a bank or company by double-checking phone numbers and reaching out directly to companies that initiate contact with you. The agency also suggests slowing down and not feeling rushed because scammers often want a quick transaction. The FTC advises that legitimate businesses and government agencies will not request bitcoin as a form of payment. Older victims have been more susceptible to cryptocurrency crimes, the data shows.
Bitcoin fraud reached more than $333 million in losses in 2025, the FBI said. The FBI’s IC3 center reported over 12,000 complaints and about $333.5 million in monetary losses from January through November 2025, up from the same period the prior year. In most cases, scammers impersonate a company or bank and urge victims to deposit funds into a bitcoin ATM to protect their accounts, with funds going directly to the scammers. Older victims have been disproportionately affected, with 60 and over accounting for 71% of losses in the first half of 2024, totaling around $46 million.
The FTC noted in 2024 that cryptocurrency scams can be more financially devastating than other forms of fraud. Regulators advise vigilance: slow down, verify contact information, and reach out directly to companies through official channels. Legitimate businesses and government agencies will not request bitcoin as a payment method.
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