The FBI has revealed a drastic surge in Bitcoin (CRYPTO: BTC) ATM fraud, with swindlers making off with $333 million in 2025.
Scammers have been found to impersonate a bank or a company, flagging purported suspicious activity on the victim’s account. They then instruct the victim to deposit money into a Bitcoin ATM to secure their funds or rectify the issue. The deposited money, however, lands in the scammers’ account.
Bitcoin ATMs have seen a rapid rise in popularity in the US, with over 30,000 machines in operation in 2024, making up approximately 81.27% of the world’s Bitcoin ATMs.
The FBI’s Internet Crime Complaint Center (IC3) revealed that more than 10,000 people fell prey to Bitcoin ATM-related fraud in 2025 alone.
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“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.
In 2024, the Federal Trade Commission (FTC) highlighted that cryptocurrency scams can be more financially ruinous than other types of fraud.
Bitcoin ATMs were responsible for $114 million in reported losses in 2023 and $78 million in losses in 2022, indicating a more than twofold increase in just two years.
The FTC has issued a warning to the public to exercise caution when contacted by a bank or company, encouraging them to verify phone numbers and reach out to companies directly.
The agency also suggests not rushing transactions as scammers often press for a quick transaction.
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This article Bitcoin ATM Fraud Hits Record High, $333 Million Pilfered In 2025: Report originally appeared on Benzinga.com
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