JACKSONVILLE, Fla. — You’ll find them in gas stations, tobacco stores and convenience stores: ATMs that convert cash into cryptocurrency.
Cryptocurrency is a huge business, but it’s also fueling costly scams. Victims across the country have lost thousands of dollars after scammers convinced them to deposit cash into cryptocurrency ATMs.
One victim, who asked to remain anonymous, described feeding $100 bills into a crypto ATM until she had deposited $13,000. She believed the payment would help resolve a fake arrest warrant.
Another victim, Diane Reynolds, fell for a tech support scam after receiving a message telling her not to turn her computer on or off.
“There was a voice message that was coming on with this and said, don’t turn your computer on. Don’t turn your computer off,” Reynolds said.
She ultimately lost $13,100 after sending money through cryptocurrency.
The Nassau County Sheriff’s Office warned about cryptocurrency ATM scams in June 2025.
“With cryptocurrency there is no paper trail. Once that money has been changed into cryptocurrency, it’s gone, and it’s gone forever,” said Tasha Addison, victim advocate with the Nassau County Sheriff’s Office.
According to AARP, cryptocurrency ATM scams cost victims more than $389 million last year.
“It’s always just an urgent push for money. We’re seeing over and over again,” said Chris Brandenburg with AARP.
Cryptocurrency ATMs are often at the center of these scams. The kiosks allow customers to deposit cash into a cryptocurrency wallet — either their own or someone else’s.
In many scams, that wallet belongs to a criminal.
“Unfortunately, what we have seen over and over again across the country is that scammers have found out about these things and realized they can take real advantage by having folks feed cash into these things. Once it is converted into that crypto, recovery is almost impossible,” Brandenburg said.
That’s why AARP is working nationwide to ban or regulate cryptocurrency ATMs.
Indiana became the first state to ban cryptocurrency ATMs in March, followed by Minnesota and Vermont. A ban in Tennessee was upheld by a federal court last week. Most other states, including Florida and Georgia, have passed laws regulating the machines.
Florida’s new law will require cryptocurrency kiosk operators to register with the state, display clear fraud warnings on screens and block transfers to cryptocurrency wallets tied to known criminal activity.
The law also limits daily transactions to $2,000 for new customers and $10,000 for existing customers. It requires refunds for a customer’s first fraudulent transaction if it is reported within 72 hours.
Those protections will not take effect until January.
Until then, AARP urges people to watch for warning signs around cryptocurrency ATMs.
If someone — especially an older adult — is using a cryptocurrency ATM while talking on the phone, they could be the victim of a scam.
Other red flags include someone appearing stressed, scared or emotional while using the machine, or depositing money after receiving an urgent call or text message, especially one claiming to be from a government official.
AARP says those are some of the biggest warning signs that someone may be in the middle of a cryptocurrency scam.
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