The threat is a social engineering scam where criminals instruct victims to deposit cash into cryptocurrency kiosks (ATMs) to transfer funds to attacker-controlled wallets. The FBI reports a 58% year-over-year increase in losses, now exceeding $388 million, with individuals over 50 being disproportionately targeted. In response, several states have banned these kiosks, and the FBI advises public vigilance against unsolicited instructions to use cryptocurrency.
Threat Intelligence FBI warns of surge in crypto ATM scam losses, exceeding $388 million May 20, 2026 Share By SC Staff (Photo by Joe Raedle/Getty Images) As outlined in Bleeping Computer, Americans have lost over $388 million to scams involving cryptocurrency kiosks, also known as crypto ATMs, according to the FBI. This represents a significant increase in both reported incidents and financial losses compared to the previous year. Cybercriminals are reportedly instructing victims to withdraw cash and deposit it into crypto kiosks, which then transfer the funds to attacker-controlled wallets. The FBI's Internet Crime Complaint Center (IC3) received more than 13,400 complaints related to crypto ATM scams in 2025, with losses exceeding $388 million. This marks a 23% increase in complaints and a 58% increase in losses from 2024. Individuals over 50 were disproportionately affected, reporting over $302 million in losses. States like Texas, Florida, and California saw over 3,300 complaints and $112 million in estimated losses. In response to this growing threat, Minnesota, Indiana, and Tennessee have already banned cryptocurrency kiosks statewide. The FBI advises the public to be cautious of unsolicited instructions, verify communications, and avoid sharing personal information or sending cryptocurrency to unknown individuals. Source: Bleeping Computer SC Staff Related Threat Intelligence Storm-2949 actor targets Microsoft 365 and Azure environments SC Staff May 20, 2026 Storm-2949 initiates attacks by targeting users with privileged roles, such as IT personnel or senior leadership, using social engineering tactics to obtain their Microsoft Entra ID credentials. Threat Management Verizon DBIR 2026: Vulnerability exploits top initial access as patching coverage falls Laura French May 20, 2026 The report also highlighted ransomware trends and the evolving role of AI in breaches. Threat Intelligence Malaysian government-linked campaign used hidden infrastructure for years SC Staff May 18, 2026 The operation, believed to be a long-term espionage effort, has maintained its command and control infrastructure for several years by employing sophisticated techniques to avoid detection. Related Events Cybercast Better Threat Intelligence Between Public and Private Sectors On-Demand Event Virtual Conference Nationwide Cybersecurity Summit 2025: Safeguarding America’s Digital Future On-Demand Event Virtual Conference Securing the Future of Finance: Strategies to Counter Modern Cyber Threats On-Demand Event Get daily email updates SC Media's daily must-read of the most current and pressing daily news Business Email By clicking the Subscribe button below, you agree to SC Media Terms of Use and Privacy Policy . Subscribe Related Terms Black Hat Deauthentication Attack Deepfake Disruption Distributed Scans Domain Hijacking Google Hacking Hybrid Attack Password Cracking Reconnaissance You can skip this ad in 5 seconds