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Crypto ATM Scams Cost Americans $240 Million in 2023

10/19/2025

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Summary

Story summary

Cable News Network (CNN) reports fraud linked to crypto ATMs in the United States, with at least a dozen cases tied to a single machine.
Scammers use these ATMs to pressure victims into depositing cash, often targeting the elderly.
In the first half of 2023, Americans lost about $240 million to these scams.
Regulators consider measures such as daily transaction limits, while crypto ATM companies oppose stricter rules, delaying resolution.

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Story summary

Cable News Network (CNN) reports fraud linked to crypto ATMs in the United States, with at least a dozen cases tied to a single machine.
Scammers use these ATMs to pressure victims into depositing cash, often targeting the elderly.
In the first half of 2023, Americans lost about $240 million to these scams.
Regulators consider measures such as daily transaction limits, while crypto ATM companies oppose stricter rules, delaying resolution.