CertiK Report Reveals Surging Crypto ATM Fraud With $333M Lost in 2025

Crypto ATMs’ minimal verification and fast transactions let criminals turn cash into digital assets in minutes, often before victims notice.

A new report from blockchain security firm CertiK warns that crypto ATM scams are rising sharply across the United States (U.S.). In 2025 alone, criminals stole roughly $333.5 million, highlighting the risks tied to cash-to-crypto kiosks.

These alarming losses are partly due to the design of crypto ATMs, which makes them attractive targets for criminals. Their structure enables fast transactions with minimal identity verification. This allows cash to be converted into digital assets in under five minutes, often before victims even realize they have been targeted.

Crypto ATMs Become Key Channel for Fraud

These kiosks are often found in convenience stores, gas stations, and malls, making them easy to access for everyday users. Their ubiquity allows scammers to trick victims into making fraudulent transfers, bypassing on-screen warnings.

According to Certik, the U.S. hosts about 78% of the world’s estimated 45,000 crypto ATMs, making it the largest market for these machines. This widespread presence contributes to rising incidents. Consequently, the Federal Bureau of Investigation received over 12,000 complaints from January to November 2025, up 33% from 2024.

Many scams involve social engineering, where criminals persuade users to deposit funds under false pretenses. The technical setup of ATMs worsens the problem, as they act as front-end interfaces connecting to backend Crypto Application Servers (CAS).

Funds typically come from operator-controlled hot wallets rather than the customer directly. This design creates an “attribution gap,” meaning blockchain records show transfers from operators, not victims. As a result, tracing the stolen funds becomes much harder.

Older Adults Face Higher Risks as Criminal Networks Expand

Older adults are particularly vulnerable, accounting for roughly 86% of crypto ATM losses. In one case, the Office of the Attorney General for D.C. found 93% of deposits on some Athena Bitcoin machines were fraudulent. The median victim was 71, and limited familiarity with digital finance makes them prime targets for scammers.

Criminal groups have industrialized these scams, running organized networks for lead generation, calls, and laundering. Some Asian syndicates laundered $16.1 billion in 2025, often using Telegram to coordinate rapid transactions.

Common scams include impersonating government officials, fake tech support, romance fraud, and emergency family schemes. Scammers are increasingly using artificial intelligence, including deepfakes, to make these scams more convincing and efficient.