The FBI's Internet Crime Complaint Center reported Americans lost more than $11.366 billion to cryptocurrency-related scams in 2025, logging 181,565 complaints in its IC3 2025 Annual Report released on April 6, 2026. Crypto losses represented over half of the $20.877 billion in total internet crime losses tracked by IC3 in 2025, marking the first time the bureau's reported losses exceeded $20 billion. The surge was driven by investment fraud schemes that accounted for $7.2 to $7.228 billion across 61,559 complaints, while crypto kiosk scams contributed $389 million in losses from 13,460 complaints, with victims aged 60 and older bearing two-thirds of kiosk-related damages. The scale of losses prompted municipal bans on crypto ATMs in Spokane, Washington, and a lawsuit by Washington DC's attorney general against Athena Bitcoin over alleged fraud facilitation. The FBI's Operation Level Up prevented an estimated $225.9 million in losses in 2025 as regulatory scrutiny of Bitcoin ATMs intensified across the US.
Investment Fraud Accounted for $7.2 Billion in 2025 Losses
Crypto investment fraud represented the largest category of losses in the IC3 2025 report, totaling $7.2 to $7.228 billion across approximately 61,559 complaints, a 25% increase from 2024. The FBI noted these scams often involve weeks of grooming and persuasion before victims transfer funds. Investment fraud losses dwarfed the $389 million attributed to kiosk-related scams, though both categories contributed to crypto losses exceeding 50% of all internet crime damages tracked by IC3 in 2025.
Crypto Kiosk Scams Hit $389 Million with Seniors Bearing Two-Thirds
IC3 counted 13,460 kiosk-related complaints tied to $389 million in losses in 2025, a 58% year-over-year increase. Victims aged 60 and older accounted for $257.4 million across 6,188 complaints, representing roughly two-thirds of the category's total losses. CertiK's Stefan Muehlbauer stated, "By the time a victim is at a kiosk, they are already deep in the scammer's trance," as cities and regulators began treating the machines as a public safety concern rather than convenience technology.
Spokane Banned Crypto ATMs and DC Sued Athena Bitcoin
Spokane, Washington, became the largest US municipality to ban all crypto ATMs within city limits after a unanimous vote, with the ban implemented in June 2025. Detective Tim Schwering cited a surge in cases: "Cases started flowing my way where people were getting ripped off by cryptocurrency machines." Spokane Valley followed with its own unanimous ban in May 2026, referencing at least 10 documented cases of significant financial loss and 1 confirmed suicide linked to kiosk-related scams. Washington DC Attorney General Brian Schwalb sued Athena Bitcoin Inc. on September 8, 2025, alleging 93% of deposits at the company's 7 local Bitcoin ATMs were scam-driven in its first 5 months operating, plus undisclosed fees up to 26% and refusals to refund victims.
FBI Operation Level Up Prevented $225.9 Million in 2025
The FBI's Operation Level Up notified 3,780 potential victims in 2025 and prevented an estimated $225.9 million in losses that year, contributing to more than $500 million prevented since the program launched in 2024. The prevention effort operates across a US landscape hosting roughly 30,433 Bitcoin ATMs as of mid-2025, with a CNBC report in January 2026 estimating about 80% of the world's bitcoin teller machines are located on US soil.
FAQ
What did the FBI report about crypto fraud losses in 2025?
The FBI's Internet Crime Complaint Center reported Americans lost more than $11.366 billion to cryptocurrency-related scams in 2025 across 181,565 complaints, with crypto losses representing over half of the $20.877 billion in total internet crime losses tracked in the IC3 2025 Annual Report released on April 6, 2026.
Why did Spokane ban crypto ATMs?
Spokane, Washington, banned all crypto ATMs within city limits in June 2025 after a unanimous vote, with Detective Tim Schwering citing a surge in cases where people were getting ripped off by cryptocurrency machines. Spokane Valley followed with its own ban in May 2026, referencing at least 10 documented cases of significant financial loss and 1 confirmed suicide linked to kiosk-related scams.
How much money did FBI Operation Level Up prevent in 2025?
FBI Operation Level Up notified 3,780 potential victims in 2025 and prevented an estimated $225.9 million in losses that year, part of more than $500 million prevented since the program launched in 2024.
