As Texas Banking Magazine reports, they borrow the look and language of trusted banking technology; but when cash enters a "Bitcoin ATM" or "crypto ATM" the safeguards consumers associate with a bank can disappear.

The FBI’s latest Internet Crime Complaint Center data shows how quickly the problem is growing. In 2025, IC3 received 13,460 complaints involving cryptocurrency kiosks, with nearly $389 million in reported losses. Complaints rose 23% from 2024; losses jumped 58%.

Older Americans carried most of the damage. People 60 and older reported 6,188 complaints and more than $257 million in losses. That’s 46% of complaints but 66% of the money lost. Adding victims ages 50 to 59 brings the share to nearly 78% of all reported kiosk losses.

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