More Than $3 Million Lost to Rising Cryptocurrency ATM Scams in Australia

Australia sees a surge in ATM-based cryptocurrency scams, with estimates of losses reaching over $3 million in one year. Police warn that reporting may not reflect the actual scale of the scams as many victims may be unaware or embarrassed to come forward. Authorities are taking action to combat the problem.

In a shocking trend, Australian authorities are reporting a steep rise in cryptocurrency ATM scams, with more than $3 million lost in just a year. According to data released, the Australian Federal Police have received 150 reports of such scams from January 1, 2024, to January 1, 2025. These frightening figures suggest this might not be the full extent of the issue.