Crypto ATM Sting Uncovers Elderly Widow Who Lost $281K in a Scam

Australian Federal Police have reached out to over 90 individuals in an operation against crypto ATM scams, uncovering that a 77-year-old widow lost $281k to an online dating fraud. Victims were manipulated into using these ATMs under false pretenses. One individual was charged with property laundering during the investigation, while several formal cautions were issued.

In an alarming turn of events, the Australian Federal Police (AFP) has launched a crackdown on the criminal use of crypto ATMs, having reached out to over 90 individuals. Among the victims is a 77-year-old widow who fell prey to an online dating scam, losing an eye-watering 433,000 Australian dollars (about $281,947). The widow had no idea her online suitor from Belgium was actually a scam artist until officers arrived at her home.

The victim recounted her experience, detailing how the scammer, whom she met through a dating application, convinced her to invest in Bitcoin. He showed her misleading documents that made it seem he had made profits of 13,000 Australian dollars ($8,464) in just a week. For her initial investment, the scammer guided her through withdrawing cash from a regular ATM to then use a Bitcoin ATM. During this 18-month period, she drained her entire life savings.

At one point, the widow revealed she carried around 20,000 Australian dollars (approximately $13,023) in cash, emphasising the time-consuming nature of the process. She noted that some transfers required up to “half a day’s work” and she had become quite adept at using the Bitcoin ATM following repeated transactions.

Additionally, AUSTRAC’s CEO Brendan Thomas shared that the task force uncovered another woman, also in her 70s, who lost over $200,000. She had been misled by a seemingly legitimate advertisement of a trading firm.

During this operation, Australian police precisely targeted the leading users of crypto ATMs, many of whom had been flagged as high-risk for involvement in scams or misuse of the machines. They contacted 21 people linked to questionable crypto ATM transactions, with most identified as victims of fraud rather than perpetrators.

Interestingly, only one person has been charged with property laundering, and four others received formal warnings due to suspicions of using crypto for purchasing drugs or acting as money mules. Some of these alleged mules were actually victims, who unwittingly helped the criminals or attempted to regain lost funds. AFP noted that a number of these victims were reluctant to come forward and acknowledge they had been scammed.

The latest enforcement follows AUSTRAC’s implementation of stricter operational guidance and transaction limits for crypto ATM operators, established on the 3rd of June. In December, the focus on cryptocurrency was identified as a priority for 2025.

The reality is stark; AFP Commander Graeme Marshall pointed out that scammers exploit vulnerable individuals by luring them into giving thousands through enticing promises of love, quick returns, or easy profits. He implored anyone faced with high-pressure tactics, or who has never met the person making these promises, to cease all communication and report the incident. According to the AFP, Australia’s online cybercrime reporting system, ReportCyber, has received 150 distinct reports concerning crypto ATM scams between January 2024 and January 2025, with losses surpassing 3.1 million Australian dollars ($2 million).