AARP Florida and Florida Department of Law Enforcement Warns Floridians of Cryptocurrency ATM Fraud

AARP Florida and the Florida Department of Law Enforcement (FDLE) urge Floridians to beware of cryptocurrency ATM payment scams. Cryptocurrency ATMs, also known as Bitcoin ATMs (BTMs), have become increasingly popular across the United States, including in Florida. These machines allow users to buy and sell cryptocurrencies like Bitcoin using cash or debit cards. However, with the rise in their popularity, there has also been a significant increase in fraud associated with crypto ATMs.

“Crypto ATMs are often used in online crypto scams, and victims can lose thousands of dollars thinking their deposits are safe” said FDLE Cyber and Technology Bureau Special Agent in Charge Mike Duffey. “Usually located inside convenience stores, these ATMs take cash deposits which are converted into cryptocurrency. Criminals can exploit these crypto ATMs and redirect a citizen’s deposit to the criminal’s own account, where the digital currency is often unrecoverable.”

According to the Federal Trade Commission, there were over $65 million of fraud losses at BTMs in the first half of 2024, a stark increase from the $12 million reported losses in 2020.

"Cryptocurrency ATMs are popping up across the Sunshine State and scammers know they offer a fast and tough-to-trace form of payment for all kinds of fraud,” said Karen Murillo, AARP Florida Associate State Director of Advocacy. “While these machines are one way to buy cryptocurrency, we warn Floridians that scammers are exploiting these ATMs to steal millions.”

AARP Florida share these following safety tips regarding crypto ATMs:

1. Government agencies, like law enforcement, will NEVER ask you to pay in crypto.
2. Avoid using QR codes shared with you via text or email while at these machines.
3. Crypto ATMs are NOT a safe way to “protect” your money from being stolen or seized.

SAC Duffey also cautions citizens. “If you are instructed to deposit monies into a crypto ATM by someone you just met online, ask yourself this question: Why do the monies have to be sent in the form of cryptocurrency? FDLE urges citizens to please take the time to validate information on the individual you’re talking with, and, before you deposit any monies into a crypto ATM, please discuss the situation with your family and friends or reach out to your local law enforcement for advice.”

If you or someone you know has been a victim to cryptocurrency ATM fraud, you can report it online through the Internet Crime Complaint Center, or to local law enforcement.

AARP Florida is committed to providing Floridians of all ages with the tools to spot and avoid scams. You can find more information at the AARP Florida Fraud Resource Center.

AARP Fraud Watch Network^TM is a free resource that equips consumers with up-to-date knowledge to spot and avoid scams, and connects those targeted by scams with our fraud helpline specialists who provide support and guidance on what to do next. Anyone can call the helpline at 877-908-3360. AARP Fraud Watch Network^TM also offers free, facilitated peer discussion groups that seek to provide emotional support for those experiencing fraud; and advocates at the federal, state, and local levels to enact policy changes that protect consumers and enforce laws.