Arizona AG sounds alarm after crypto ATM scams target older Arizonans Arizona Attorney General Kris Mayes is blasting an alarming trend: scammers are increasingly using the state’s roughly 600 crypto ATMs to siphon money from consumers — especially older adults. Mayes said Arizonans lost more than $177 million to crypto ATM scams in 2024 and launched new recovery tools and warnings to try to stop the bleeding. Nationwide picture: big losses, vulnerable victims - The FBI reports Americans lost about $246 million to crypto ATM scams in 2024, and roughly 43% of victims were over age 60. - CoinATMRadar lists about 31,339 crypto ATMs across the U.S., making the machines an attractive target for fraudsters. How the scams work Scammers follow a familiar, high-pressure pattern: victims get urgent calls from impostors posing as law enforcement, utility companies, or relatives in distress. They’re told to withdraw cash and deposit it into a nearby crypto kiosk. Once the funds are sent, recovery is difficult — crypto ATMs often operate without accounts, fraud desks, or cooling-off periods, so money “is effectively gone,” cybercrime consultant David Sehyeon Baek told Decrypt. He added that the machines’ design makes them easy for scammers to abuse. What Arizona is doing - Mayes’ office has launched a complaint form and urged victims to report scams within 30 days to improve chances of recovery. She warned anyone directing consumers to use crypto kiosks is likely running a scam: “be careful around the physical cryptocurrency ATMs we’re seeing pop up around the state,” she said. - Arizona passed a law in 2025 to regulate crypto kiosks. The rules require operators to display multilingual fraud warnings, provide 24/7 live customer support, and cap daily transactions at $2,000 for new customers and $10,500 for existing users. That bill was the only crypto-related measure Gov. Katie Hobbs signed in 2025 after she vetoed several Bitcoin-related proposals. Enforcement and broader response Regulators and municipalities are tightening controls. Jurisdictions from Spokane to Illinois have implemented restrictions, and operators have faced enforcement actions — most recently Bitcoin Depot agreed to a $1.9 million settlement with Maine regulators over scam-related transactions at its machines. Expert view and practical advice Baek stresses that “scammers are experts in psychology and human behavior,” and that adding “a bit more friction” and stronger safety measures at kiosks could cut fraud without breaking legitimate use. Mayes reiterated a simple rule: no legitimate company or government entity will ever demand payment via a crypto ATM. She urged consumers to independently verify urgent payment requests and to consult trusted advisors before making large transfers. If you or someone you know is targeted - Don’t follow instructions from an unsolicited caller to send money through a crypto ATM. - Verify the caller’s identity independently (call the agency, utility, or family member using a known number). - Report the incident to the Arizona Attorney General’s new complaint form — especially within 30 days — and contact local law enforcement. As crypto kiosks proliferate, the combination of aggressive scams and the machines’ design leaves victims exposed. Regulators and operators are taking steps, but vigilance — particularly for older adults — remains the strongest immediate defense. Read more AI-generated news on: undefined/news

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