The U.S. regulators again issued a warning regarding the encryption of ATM fraud. The United States Commodity Futures Trading Commission (CFTC) reminded consumers on August 26 that fraudsters were collecting money through encryption ATM, strange applications, gift cards and couriers and that such transfers were often difficult to withdraw.

According to FBI data, in 2025 the United States received more than 13.4 million complaints related to encrypted currency self-help terminals, with damages exceeding $388 million. Compared to 2024, the number of complaints increased by 23 per cent and the amount of damage reported increased by 58 per cent.

The group over 50 years of age suffered the most.

More than half of all complaints concerned persons over 50 years of age, and the total damage to these victims exceeded $302 million. Previous studies by the United States Federal Trade Commission have also shown that older groups tend to lose even more when they impersonate government agencies and businesses.

Another FTC analysis mentioned that 33 per cent of the relevant fraud reports in 2024 involving older persons, with a single loss of at least $10,000, referred to encrypted currency, most of which was related to Bitcoin ATM.

Fraud is often pressured by emergencies.

Unlike traditional banks ATM, encrypted self-help terminals convert cash into encrypted currency and transfer it directly to a given wallet. Once identified in the chain, funds are usually not withdrawn and follow-up is more difficult.

According to CFTC, fraudsters often pretend to be government agencies, banks, investment companies, utility companies or technical support personnel, claiming that the identity of the victim, computers or deposit accounts are at imminent risk, thus forcing the other party to transfer the funds immediately.

  • Guide the victim through the phone to complete the transfer
  • Provide a wallet address or 2-D code for a sweep to pay
  • Request that cash be spread over multiple machines to avoid interception.

The CTC emphasizes that government agencies, formal financial institutions and reputable enterprises do not require users to transfer funds by encryption ATM, gift card or courier.

Co-ordinated federal and state levels

In addition to the consumer alert, the Financial Crimes Enforcement Network (FinCEN) of the United States has also required financial institutions and encrypted end operators to enhance monitoring and, if necessary, to submit suspicious activity reports. In its 2025 circular, the Agency listed a number of risk signals, including ongoing transactions over a short period of time, duplicate deposits, older clients operating under telephone instructions and the flow of funds to known fraudulent wallets.

Regulation at the state level is also advancing. It was reported that the State of Arizona had helped 35 victims recover US$ 17.13 million after introducing trade limits, anti-fraud tips and refund requests.

Victims should keep evidence and report it as soon as possible.

The CTC recommends that communications should be suspended immediately upon receipt of a call from a stranger and that a self-searched network of officials or telephone contact should be impersonated as an institution, rather than using the contact information provided by the caller.

If there is a suspicion of having been deceived, the victim should as soon as possible keep an encrypted terminal receipt, wallet address, 2D code, trade Hashi, correspondence records and the location of the machine. This information helps investigators to track the flow of funds, even if ultimately recovery is not possible.

Complaints can be submitted to the CTC Complaints Platform and the IC3 website of the FBI, and victims should also contact local law enforcement and end operators as soon as possible.