The Australian Federal Police has sounded the alarm over a sharp increase in scams involving cryptocurrency ATMs, with new data revealing losses of over $3 million in just 12 months — a figure authorities believe may barely scratch the surface.
Between January 2024 and January 2025, 150 unique reports were made to ReportCyber, the federal platform for reporting online crime. These scams — often involving cryptocurrency transactions via ATMs — have stripped Australians of an estimated $3.1 million, with each victim losing an average of more than $20,000.
Investment scams were the most common, followed by extortion emails and romance scams. Victims were predominantly women and nearly half were aged over 51. That demographic detail aligns with separate findings by AUSTRAC, which estimates $275 million moves through crypto ATMs in Australia each year — and a significant portion of that, intelligence suggests, is scam-related.
AFP Commander Graeme Marshall said the numbers reflect widespread under-reporting. “Scams are everywhere, targeting people from all walks of life and costing Australians billions of dollars each year,” he said.
“But with crypto ATM scams, we suspect many more are falling victim without even realising it, or they feel too embarrassed to come forward.”
Crypto ATMs — which allow users to buy or sell digital currencies using cash — have exploded in number across the country, growing from just 23 machines in 2019 to more than 1,600 in 2025. As their footprint has grown, so has their misuse. Scammers are increasingly pressuring victims to use these machines to send cryptocurrency directly to them — a method that is nearly impossible to trace or reverse once completed.
Authorities are responding through a joint taskforce between the AFP, AUSTRAC, and the JPC3, aimed at curbing the trend. Educational posters and warning materials are now being placed at crypto ATM locations to alert potential victims about how these scams operate and how to report suspicious activity.
Marshall emphasised that awareness is key. “The better informed the public is about the warning signs and red flags associated with these scams, the more likely they won’t fall for scammers’ shady tactics,” he said.
Scammers often build trust through romance, job offers, or tech support hoaxes, and then strike with urgent requests to send crypto. In some cases, scammers pose as utility providers or government agencies demanding payment in cryptocurrency — something no legitimate organisation would ever do.
“If something sounds too good to be true, it probably is,” said Marshall.
“Don’t send cryptocurrency to someone you haven’t met in person, and never use a crypto ATM to make payments to strangers, romantic interests, or for so-called investments.”
Authorities are urging Australians to report incidents, however small they may seem. Victims should cut off all contact with the scammer, report the incident to police and Scamwatch, and notify their digital currency exchange provider. Speaking up, Marshall said, is one of the best ways to help others avoid falling into the same trap.
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