Crypto Adoption Grows, So Do The Scams – And Bitcoin ATMs Are Ground Zero, Says FBI

• Fraud through Bitcoin ATMs more than doubled from 2023 to 2024 and continued climbing this year, the FBI’s spokesperson told ABC News.
• The report stated Bitcoin ATMs remain attractive to scammers due to fast execution and limited recovery options.
• According to blockchain security firm SlowMist, industry-wide crypto losses neared $3 billion in 2025 despite fewer reported incidents.

Bitcoin (BTC) ATM scams are reportedly on a clear and consistent rise, according to the Federal Bureau of Investigation (FBI), with scammers siphoning $333 million in 2025 from these schemes.

According to an ABC report, citing an FBI spokesperson, fraudulent transactions at Bitcoin ATMs reached roughly $333.5 million in 2025. They said that there has been a a “clear and constant rise” in this form of fraud that is “not slowing down.” The agency noted that the figure is higher than the estimated $250 million lost in 2024, which itself more than doubled losses recorded the year before.

The FBI’s insight follows analysis by blockchain security firm SlowMist, which showed that the broader crypto industry saw few major security incidents in 2025, even as total losses increased.

Bitcoin ATMs Emerge As Weak Spot

According to the report, an estimated 45,000 Bitcoin ATMs operate across the U.S., allowing users to deposit cash and transfer funds directly to digital wallets anywhere in the world. 

Transactions typically settle within minutes, and once completed, funds are difficult to trace or recover. The same speed and finality that cryptocurrency is touted for have made ATMs a scammer favorite for targeting retail users, particularly through impersonation schemes and social engineering, the report said.

Fewer Crypto Incidents, Larger Losses

The rise in bitcoin ATM scams comes alongside broader losses across the digital asset industry. SlowMist reported nearly $3 billion in crypto-related losses in 2025, driven by security breaches, phishing campaigns, and Ponzi-style schemes.

SlowMist identified roughly 200 major incidents during the year, resulting in estimated losses of about $2.94 billion. While the number of reported incidents fell sharply from 410 in 2024, total losses increased about 46% year over year from roughly $2.01 billion. SlowMist noted a shift toward fewer but more financially severe attacks, often relying on deception rather than technical exploits.

Bitcoin’s price rose 1.6% in the last 24 hours to around $88,900. On Stocktwits, retail sentiment around the apex cryptocurrency remained in ‘bearish’ territory over the past day as chatter dipped to ‘low’ from ‘normal’ levels.

Read also: Crypto Markets Drift Into Year-End With Bitcoin, Ethereum Range-Bound

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