FBI Reports Over $300 Million Lost to Bitcoin ATM Scams in 2025
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 31 2025
0mins
Source: Benzinga
- Surge in Fraud Losses: The FBI reports that losses from Bitcoin ATM scams have reached $333.5 million in 2025, a significant increase from approximately $250 million in 2024, indicating a troubling trend that poses serious financial risks to investors and users alike.
- Common Scam Tactics: Scammers manipulate victims into using ATMs to convert cash into cryptocurrency, which is then sent directly to the scammer's wallet, leading to substantial losses for unsuspecting users and highlighting the urgent need for market regulation.
- Increased Legislative Attention: Senator Cynthia Lummis of Wyoming has expressed concerns over the surge in Bitcoin ATM scams and aims to address the issue through a cryptocurrency market structure bill, demonstrating lawmakers' commitment to consumer protection.
- Notable Victim Cases: Despite warnings from law enforcement and store staff, victims like a 71-year-old woman have lost thousands of dollars at Bitcoin ATMs, underscoring the vulnerability of the public to cryptocurrency scams and the necessity for enhanced education on the risks involved.
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Analyst Views on BTM
Wall Street analysts forecast BTM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BTM is 3.93 USD with a low forecast of 2.30 USD and a high forecast of 6.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 1.080
Low
2.30
Averages
3.93
High
6.00
Current: 1.080
Low
2.30
Averages
3.93
High
6.00
About BTM
Bitcoin Depot Inc. is a Bitcoin ATM (BTM) operator and fintech company. The Company provides its users with simple means of converting cash into Bitcoin, which users can deploy in the payments, spending and investing space. Users can convert cash to Bitcoin at Bitcoin Depot kiosks in 47 states and at thousands of name-brand retail locations in 31 states through its BDCheckout product. The Company has over 9,000 kiosk locations in North America. Its mobile app includes a buy online feature that connects consumers to a third-party service, Simplex powered by Nuvei, that allows consumers to buy Bitcoin without going to a kiosk or using BDCheckout. Its BTMs offer one-way exchange of cash-to-Bitcoin. The Company also operates a BTM device and transaction processing system, BitAccess, which provides software and operational capabilities to third-party BTM operators. The Company is the exclusive provider and operator of BTMs for Circle K in the United States and Canada.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Bitcoin Depot Acquires Instant Coin Bank to Expand Southern Market Presence
- Market Expansion: Bitcoin Depot announced the acquisition of regional Bitcoin ATM operator Instant Coin Bank, further expanding its footprint in Texas and Oklahoma, thereby enhancing its influence in the south-central United States.
- Brand Integration: The ATM network of Instant Coin Bank will be integrated into the Bitcoin Depot platform in the coming weeks, with all locations transitioning to Bitcoin Depot branding, ensuring no disruption in customer service.
- Functionality Enhancement: Existing ATM machines will retain their core functionality while gaining access to Bitcoin Depot's 24/7 customer support, compliance programs, and technology systems, thereby improving the user experience.
- Strategic Significance: This acquisition aligns with Bitcoin Depot's strategy to consolidate the fragmented Bitcoin ATM market, further solidifying its market position in Texas and surrounding states.
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FBI Reports Over $300 Million Lost to Bitcoin ATM Scams in 2025
- Surge in Fraud Losses: The FBI reports that losses from Bitcoin ATM scams have reached $333.5 million in 2025, a significant increase from approximately $250 million in 2024, indicating a troubling trend that poses serious financial risks to investors and users alike.
- Common Scam Tactics: Scammers manipulate victims into using ATMs to convert cash into cryptocurrency, which is then sent directly to the scammer's wallet, leading to substantial losses for unsuspecting users and highlighting the urgent need for market regulation.
- Increased Legislative Attention: Senator Cynthia Lummis of Wyoming has expressed concerns over the surge in Bitcoin ATM scams and aims to address the issue through a cryptocurrency market structure bill, demonstrating lawmakers' commitment to consumer protection.
- Notable Victim Cases: Despite warnings from law enforcement and store staff, victims like a 71-year-old woman have lost thousands of dollars at Bitcoin ATMs, underscoring the vulnerability of the public to cryptocurrency scams and the necessity for enhanced education on the risks involved.
Continue Reading