U.S. CFTC Warns of Crypto ATM Scams, 2025 Losses Exceed $388M

ChainCatcher report: According to an announcement by the U.S. Commodity Futures Trading Commission (CFTC), scammers are frequently impersonating government agencies, banks, investment firms, utility companies, or technical support personnel to trick victims into transferring funds via cryptocurrency ATMs, gift cards, unfamiliar apps, or courier services. They exploit the irreversible nature of transactions and the difficulty of tracing wallet addresses to carry out fraud. Data from the FBI’s Internet Crime Complaint Center (IC3) shows that in 2025, reported losses from cryptocurrency ATM scams exceeded $388 million—a 58% increase from the previous year—though actual losses may be higher due to underreporting. The CFTC emphasizes that legitimate government agencies, financial institutions, and businesses will never ask users to transfer assets via cryptocurrency ATMs, gift cards, or courier services. If someone pressures you to act immediately under the pretext of an “urgent risk to your account or identity,” demands secrecy, requests remote access to your device, or instructs you to send funds to a specific wallet address or QR code, treat this as a high-risk warning sign. Regulatory authorities advise users to halt all transactions, independently verify information through official channels, and promptly report suspicious scams to the CFTC or FBI IC3.