Taiwan Central Bank Warns US Bitcoin ATM Scam Losses Topped $388 Million

Crypto kiosks, widely known as Bitcoin ATMs, let users exchange cash for digital assets and send them directly to a wallet. Fraudsters have exploited that speed by impersonating government agencies, police, banks or customer-service staff and directing victims to deposit cash and transfer the purchased tokens. The transactions are generally irreversible, and funds sent to criminal-controlled wallets are difficult to recover, making the machines an increasingly effective channel for scams.

Taiwan’s central bank warned on July 21, citing Federal Bureau of Investigation data showing more than 13,400 US complaints involving cryptocurrency ATMs in 2025 and losses exceeding $388 million, up 58% from 2024. More than half of the complaints involved people over 50. The central bank also flagged longer-term security risks from quantum computing, saying technology companies are developing post-quantum cryptography to protect digital assets before a potential “Q-Day,” when quantum machines could break today’s encryption.