Arizona Emergency Alert: Surge in Cryptocurrency ATM Scams, Seniors Lose Over $177 Million

February 3 News, as cryptocurrency ATMs rapidly expand across the United States, related scam cases continue to rise. Arizona Attorney General Kris Mayes recently issued an emergency warning stating that scammers are heavily exploiting approximately 600 cryptocurrency ATMs in the state to trick residents into transferring funds, with seniors being the primary victims.

Mayes stated that, in 2024 alone, Arizona residents have lost over $177 million to such scams. She emphasized that any behavior prompting others to make “urgent payments” through cryptocurrency ATMs can almost certainly be considered fraud, and urged the public to stay vigilant.

To improve accountability and the chances of recovering funds, the Attorney General’s Office has launched a new victim complaint form, recommending reporting within 30 days so law enforcement can intervene promptly.

Federal data is equally alarming. The FBI disclosed that in 2024, losses nationwide due to scams related to cryptocurrency ATMs reached $246 million, with approximately 43% of victims over 60 years old. These scams often involve impersonating law enforcement, utility companies, or relatives to create a sense of urgency, forcing victims to deposit cash into nearby machines.

Cybercrime advisor David Sehyeon Baek pointed out that these devices often lack account verification, anti-fraud teams, or cooling-off periods. Once funds are transferred out, they are difficult to recover, making these scenarios high-risk for scams. CoinATMRadar data shows that the U.S. currently has over 31,000 such devices deployed.

In response to the risks, Arizona passed a regulatory bill last year requiring operators to post multilingual warnings, provide 24/7 customer service, and set different daily transaction limits for new and existing users. Governor Katie Hobbs signed the bill in 2025, making it her only approved cryptocurrency-related legislation.

Other regions have also begun implementing similar measures, investigating operators, and imposing fines. Mayes once again reminded that no legitimate organization would ask the public to transfer funds via cryptocurrency ATM. When faced with urgent payment requests, verify the source first and consult trusted family members or professionals to avoid falling into scams.