Police Uncover Shocking Crypto ATM Scam Targeting Elderly Widow

Australian Federal Police have contacted over 90 Australians in a crackdown on crypto ATM scams, revealing a heartbreaking case of a 77-year-old widow who lost nearly $282K to an online dating fraud. The police operation highlighted the scale of victimisation and suspected criminal activity surrounding crypto ATMs. New rules and transaction limits have been implemented to combat these scams, with significant losses reported over the past year.

The Australian Federal Police (AFP) has revealed a worrying trend related to scams involving crypto ATMs, with more than 90 Australians being contacted in an extensive operation targeting criminal activities linked to these machines. One notable case involved a 77-year-old widow who lost a staggering 433,000 Australian dollars (approximately $281,947) to an online dating fraud, as reported by AUSTRAC, the nation’s financial intelligence agency.

The widow, who had unknowingly been conversing with a scammer posing as a Belgian man for two years, learned of the deception when police arrived at her home. For the first of many transactions, the scammer persuaded her, citing false documentation showing significant returns from Bitcoin investments. In total, over 18 months, she managed to withdraw her entire life savings.

The victim described carrying a hefty sum, occasionally up to 20,000 Australian dollars (around $13,023) in cash, stating, “the transfers often took half a day’s work,” leaving her adept at handling Bitcoin ATMs. She expressed deep sorrow at having to reveal to her daughter that her hard-earned savings of 40 years had vanished into the scammer’s hands in that brief time.

AUSTRAC’s CEO, Brendan Thomas, highlighted that another woman, also in her 70s, lost more than $200,000 after being duped by what she believed was a legitimate trading advertisement.

Through this recent operation, law enforcement targeted specific crypto ATM users flagged for potential involvement in illicit activities or as scam victims. After extensive assessments, AFP reached out to 21 individuals whom they believed either needed to be alerted as scam victims or were possibly engaged in unlawful activities related to the ATMs.

Disturbingly, nearly all transactions linked to those investigated were found to involve victims rather than criminals, with one individual charged with property laundering. Additionally, four others received formal cautions for their suspected involvement in buying drugs or acting as money mules, though some were indeed victims who had unknowingly funneled money to assist in scams or to recover their losses.

The crackdown comes shortly after AUSTRAC introduced new operating rules and transaction limits for cryptocurrency ATM operators, a move aimed at curbing scams. Last December, the agency listed crypto as a crucial focus for 2025 and beyond.

AFP Commander Graeme Marshall noted that scam victims are targeted through false promises of romance, investment opportunities, or quick financial returns, leading to devastating losses. He advised people to cease contact immediately if they find themselves in high-pressure situations with any unknown party asking for cryptocurrency payments.

Between January 2024 and January 2025, Australia’s online cybercrime reporting platform, ReportCyber, recorded 150 reports of scams involving crypto ATMs, with losses totalling over 3.1 million Australian dollars (around $2 million). They emphasized the importance of vigilance in these situations to protect against such increasingly sophisticated scams.