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Bitcoin ATM Scams: What to Know Before You Deposit Cash

No real bank or agency will tell you to deposit cash into a Bitcoin ATM. How the scam works, the FBI's latest numbers, and what to do if it happened.

By Nathan Fielder Checked against official sources

Updated : Matched the scam steps to the FTC alert and credited the QR code detail to the FBI. Published

Quick answer

No real bank, government agency or business will tell you to deposit cash into a Bitcoin ATM. Scammers use these machines because the money moves fast and is hard to recover. In 2025, people 60 and older reported about $257 million lost through crypto ATMs to the FBI, the most of any age group.

You have probably seen them in gas stations and convenience stores: machines that look like ATMs but turn cash into cryptocurrency. In a Bitcoin ATM scam, a scammer talks you into feeding cash into one. Once cash goes into the machine, it can be sent instantly to a digital wallet the scammer controls — and it is very hard to get back.

The FBI’s Internet Crime Complaint Center reports that in 2025 it received 13,460 complaints involving cryptocurrency ATMs or kiosks, with about $389 million in losses — a 58% jump in losses from the year before. People 60 and older were hit hardest: they filed 6,188 of those complaints and reported about $257 million lost.

How does a Bitcoin ATM scam unfold?

A Bitcoin ATM scam starts with a scary alarm, then a fake rescuer who tells you to withdraw cash and feed it into a crypto machine. The Federal Trade Commission describes a pattern that repeats with small variations:

  1. The alarm. A call, text, email or computer pop-up says something is wrong: suspicious charges on your bank or shopping account, or your identity linked to a crime such as money laundering.
  2. The rescue. A friendly “fraud agent,” “tech support worker” or “government officer” offers to help you protect your money.
  3. The withdrawal. You are told to take cash out of your bank, investment or retirement account.
  4. The machine. You are directed to a specific Bitcoin ATM. The FBI’s 2025 IC3 report says scammers also send QR codes to scan at the machine. The FTC is direct about what happens next: once you deposit the cash, it goes straight into the scammer’s wallet.
EXAMPLE — SCAM
Incoming call (888) 555-0151

Caller: This is the fraud protection unit. Someone in your branch is stealing from customer accounts, so your savings are not safe there.

Caller: We need you to withdraw $15,000 in cash today and keep this confidential. Then go to the cash machine at the gas station on Main Street. I’ll text you a secure QR code so we can protect your funds. Stay on the line with me the whole time.

A fake bank 'fraud department' call steering the victim to a crypto ATM This is a made-up example based on real scam reports. Never reply to, call, or tap links in messages like this.

How common are crypto ATM scams?

In an August 2025 analysis, the FTC found that among older adults who reported losing $10,000 or more to a business or government impersonator in 2024, 33% said they paid with cryptocurrency — most often through Bitcoin ATMs. The scammers usually keep the person on the phone the entire time, so there is no chance to talk with a friend or relative who could spot the trick.

What one rule stops this scam?

According to the FTC, real businesses and government agencies do not tell you to use a Bitcoin ATM to protect your money or fix a problem. So if anyone says your money is in danger and the solution is to withdraw cash, stop. Hang up and call your bank yourself, using the number on your card or statement. If you are a family member, share this rule with the people you love.

If it already happened

Contact the company that operates the crypto ATM immediately, tell them the transaction was fraud and ask them to reverse it. Keep your receipt. Then report to the FBI at IC3.gov and the FTC at ReportFraud.ftc.gov. Our guide on the first hour after a scam covers the other steps, and our alert on tech-support scams explains one of the most common ways these schemes begin.

To learn how crypto ATMs fit into larger investment schemes, see our guide to investment and cryptocurrency scams. For every agency to contact, see where to report a scam.

If someone later offers to recover your crypto for a fee, read about recovery scams.

Red flags: how to spot this scam

  1. Someone you do not know tells you your bank account, identity or computer is in danger, and that you must act right now.
  2. You are told to withdraw cash from your bank, investment or retirement account to "protect" it or fix a problem.
  3. You are sent to a Bitcoin or crypto ATM — often at a gas station or convenience store — and given a QR code to scan.

What to do

  1. Never deposit cash into a crypto ATM because someone called, texted or emailed you. No real business or government agency asks you to do this.
  2. Hang up and call your bank or investment company using a number you already know is real.
  3. If you already paid, contact the crypto ATM operator immediately, say the transaction was fraud and ask them to reverse it. Keep your receipt.
  4. Report it to the FBI at IC3.gov and to the FTC at ReportFraud.ftc.gov.
  5. Be wary of anyone who later offers to recover your crypto for a fee.

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Where to report it

Reporting helps investigators spot patterns and warn others — even if you did not lose money. Type these addresses yourself or use the links below; do not use links from a suspicious message.

  • FBI Internet Crime Complaint Center (IC3)

    Online and computer-related fraud, including tech-support, romance, investment and crypto scams.

    IC3.gov

  • U.S. Securities and Exchange Commission (SEC)

    Investment fraud, fake brokers and "guaranteed return" schemes.

    sec.gov/tcr

  • Commodity Futures Trading Commission (CFTC)

    Crypto, forex and commodity trading fraud.

    cftc.gov/complaint

  • Federal Trade Commission (FTC)

    Any scam, fraud or bad business practice — calls, texts, emails, websites and impostors.

    ReportFraud.ftc.gov

You can also report to your state attorney general. If you sent money, call your bank or card company right away using the number on the back of your card.

Frequently asked questions

How much are older adults losing at crypto ATMs?

In its 2025 annual report, the FBI's IC3 said complaints involving cryptocurrency ATMs or kiosks totaled 13,460, with about $389 million in losses. People 60 and older filed 6,188 of those complaints and reported about $257 million in losses.

Can I get my money back from a crypto ATM?

It is difficult. The FTC notes that cryptocurrency payments do not have the legal protections that credit and debit cards have. Contact the ATM operator right away anyway, and report to law enforcement. Some states have laws that may help.

Are all crypto ATMs scams?

The machines themselves are legal businesses. The scam is the person telling you to use one. If anyone you have not met in person pressures you to put cash into a crypto ATM, stop.

Sources

We rely on official government sources. Read how we check facts in our editorial policy.

  1. FBI Internet Crime Complaint Center: 2025 IC3 Annual Report (Cryptocurrency Fraud Trends, p. 53) (ic3.gov, accessed )
  2. FTC Consumer Alert: Scammers use Bitcoin ATMs to steal your money (Sept. 3, 2024) (consumer.ftc.gov, accessed )
  3. FTC Data Spotlight: False alarm, real scam — how scammers are stealing older adults' life savings (Aug. 7, 2025) (ftc.gov, accessed )
  4. FTC: What To Do if You Were Scammed (consumer.ftc.gov, accessed )

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