Been told to pay at a Bitcoin ATM? Read this first

Many of us still view cryptocurrency as a niche asset. Yet some estimates claim that nearly one in 10 people globally own some. That’s why you may have noticed Bitcoin or crypto ATMs springing up in retail stores, transport hubs, and gas stations over recent years. Today there are tens of thousands in the US alone.

Their job is simple: allow you to buy or sell crypto using cash or card. But scammers also have them in their sights. If you ever receive an unsolicited call urging you to deposit money into a crypto ATM, hang up immediately, no matter how serious the allegations. No real government agency, bank, or company will ever tell you to pay them via a Bitcoin ATM.

According to the FBI, 13,460 of these scams made fraudsters $389 million in 2025, a 23% increase in volume and 58% in losses over 2024. Most of those complaints came from people over 50, who lost more than $302m between them. Victims over 60 accounted for $257.4m of that total.

Older victims are over-represented partly because fewer of them know what crypto ATMs are. But the machine is only the payment method. What makes the scam work is a phone call designed to frighten you and keep you on the line.

The scam itself is a variation of an “impersonation” attack. That is, you will usually be called up out of the blue by a fraudster masquerading as a serious-sounding police officer, government employee or other trusted official. Or you might get a popup on your computer telling you to call a number as your machine is infected. Once you’re on the phone, they will try to: