The AFP has warned against the rise of scams involving cryptocurrency ATMs, as new data reveals the loss of more than $3 million in a 12-month period. And this figure may be just the tip of the iceberg.

From 1 January, 2024 to 1 January, 2025, ReportCyber – Australia’s online cybercrime reporting system operated by the Australian Cyber Security Centre (ACSC) – received 150 unique reports of scams involving crypto ATMs, with an estimated loss of $3,107,600.

This equates to one report every two and a half days, each with an average loss of more than $20,000.

Of the 150 incidents, the top three associated crime types were investment scams (63), extortion emails (35) and romance scams (24). Of the victims, 102 were women, 47…