CFTC Warns About Cryptocurrency ATMs as U.S. Losses Reach Approximately $617 Million by 2025

U.S. Strengthens Regulations and Industry Restructuring

On the 27th, the U.S. Commodity Futures Trading Commission (CFTC) issued a warning on official X (formerly Twitter) regarding the use of cryptocurrency ATMs. They highlighted that cash deposits are converted into cryptocurrency, with transfers being immediate and irreversible, and that these ATMs can easily be misused for transactions that conceal identities, urging users to verify information before use.

The background to this warning is a sharp increase in fraud-related losses. According to the FBI, complaints related to cryptocurrency ATMs exceeded 13,400 in 2025, with losses reaching $388 million (approximately ¥61.7 billion at an exchange rate of ¥159 per dollar). Compared to the previous year, the number of complaints increased by 23%, and the amount of losses rose by 58%.

FBI Statistics Show Elderly Are Most Affected

More than half of the complaints came from individuals aged 50 and older, with losses in this age group amounting to $320 million. The FBI explained that typical scams involve fraud groups providing detailed instructions to victims on how to withdraw cash from banks, the locations of ATMs, and the procedures for deposits and transfers.

In response to the expansion of such scams, state-level regulatory measures are also accelerating. Indiana signed a law in March 2026 prohibiting the operation of cryptocurrency ATMs statewide, becoming the first state in the nation to do so, with Tennessee and Minnesota following suit. In Delaware, a House committee passed House Bill 441 (HB441) in June, which includes a complete ban and has been sent to the Senate. This bill mandates the removal of existing ATMs within 90 days of the law's enactment.

Major Player Bitcoin Depot Files for Bankruptcy

The repercussions of regulatory tightening have also affected the industry's largest players. Bitcoin Depot, which operated over 9,000 Bitcoin (BTC) ATMs, announced on May 18 that it had filed for Chapter 11 bankruptcy protection in the federal bankruptcy court for the Southern District of Texas. The company stated that the filing aims for an orderly reduction of its business and asset sales.

The CFTC emphasized in its warning that while cryptocurrency ATMs may look similar to regular ATMs, the nature of the transactions is significantly different. They urged users to verify the mechanisms through reliable sources before use.

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