Texas Residents Lost $56.8 Million to Crypto ATM Scams Over the Past Year, Data Show

Texas law enforcement data show state residents lost a total of $56.8 million to cryptocurrency kiosk (ATM) scams over the past year, with about 1,200 victims identified in incomplete statistics. According to ChainCatcher, the figures were reported by Cryptopolitan. The scams typically involve callers impersonating government agencies or company staff and falsely claiming the victim faces legal trouble or unpaid debts. Victims are instructed to go to a crypto ATM, convert cash into cryptocurrency, and send it to an address provided by the scammers. Because cryptocurrency transfers are generally irreversible and can offer a degree of anonymity, recovering funds after they are sent is difficult. Texas has become one of the harder-hit U.S. states for crypto ATM fraud, and state regulators are increasing public education and prevention messaging to warn residents about the scheme.