U.S. residents lost $388 million through cryptocurrency kiosks in 2025, according to a new FBI report. 

The FBI released a supplement to its annual study of incidents reported to the Internet Crime Complaint Center (IC3) focused on cryptocurrency ATMs that allow people to trade cash for cryptocurrency.  

Criminals are ordering victims to send funds through the ATMs, according to the FBI, and the use of cryptocurrency kiosks “to perpetrate fraudulent activity against the U.S. population is increasing.” 

In most complaints, victims said they were given detailed information by fraudsters on how to take money from their bank account, where to find a cryptocurrency kiosk and how to send the funds. 

“In 2025, the IC3 received more than 13,400 complaints reporting the use of cryptocurrency kiosks, with losses over $388 million — a 23% increase in complaints and a 58% increase in losses from 2024,” the FBI said. “More than half of the complaints involved individuals over 50, with losses over $302 million.” 

The FBI noted that the data includes complaints where a cryptocurrency kiosk was used in the scam but “may also include other types of transactions.”

The report contains staggering state-by-state figures. Topping the list is Texas, which had 1,179 reports and nearly $57 million in reported losses. 

Florida was next with 1,213 reports and $32.7 million in losses. California and Illinois both reported more than $20 million while Arizona, New Jersey, North Carolina, Pennsylvania, Tennessee, Kentucky, Michigan and Ohio all saw eight-figure losses. 

The machines are typically found in commercial spaces like gas stations, grocery stores and malls. 

The U.S. Treasury Department warned last year that cryptocurrency ATMs are increasingly being used as part of cyber thefts where victims are pushed to give away thousands of dollars in fake investment schemes, tech support ruses or romance scams — most of which are run by Chinese gangs from compounds in Southeast Asia.

Last month, Tennessee banned cryptocurrency ATMs and Indiana outlawed the technology in March. A similar measure in Minnesota recently passed the Senate and is awaiting a House vote. 

Several recent investigations by state attorneys general have raised questions about the crypto kiosk industry and whether the ATMs serve a legitimate purpose. A lawsuit filed in February by Massachusetts against Bitcoin Depot, the largest global kiosk provider, said that among hundreds of customers contacted by the attorney general’s office, more than 80% had been the victims of scams. 

Iowa also recently sued Bitcoin Depot and another major provider, CoinFlip, for allegedly profiting from scams, and Washington, D.C. sued kiosk operator Athena in September, alleging that 93% of its transactions in the district were scam related.

New Zealand banned all crypto ATMs last year and Australia introduced legislation that would set spending limits and other rules designed to address fraud.