AARP Scam Alert: Crypto ATMs: What You Need to Know

If you’re like most Americans, every time you go grocery shopping you pass a device that was used to steal $35 million from U.S. consumers last year. Cryptocurrency ATMs are often colorful kiosks that are popping up all over the U.S. in supermarkets, convenience stores, gas stations, restaurants, liquor stores, and even laundromats. There are more than 49,000 crypto ATMs in the United States, up from only about 1,200 at the end of 2017.

Criminal scammers are always looking for the quickest way to get their victims’ money. As awareness of and protection from other payment methods increases, crypto ATMs have become their preferred means. Because these kiosks look like regular ATMs, they appear more legitimate to victims who are directed to them. The AARP Fraud Watch Network Helpline has heard from countless victims who have been instructed to insert thousands of dollars in cash into these machines to take care of an “urgent” financial matter.

While there are many different scams, there are only a handful of ways criminals can make money. If you are directed to a crypto ATM to take care of an urgent financial matter, it is a scam.

Fight fraud! If you can spot a fraud, you can stop it.

The AARP Fraud Watch Network is a free resource for everyone. Learn how to proactively identify fraud or get help if you’ve been a victim of a scam. Visit aarp.org/fraudwatchnetwork or call our dedicated helpline at 1-877-908-3360 to speak with a fraud specialist.

Need a fraud prevention speaker for your group? Click the link to fill out our online form or email [email protected].