Loading story…
Minnesota has enacted a statewide ban on cryptocurrency ATMs after residents reported nearly $1 million in scam losses tied to the machines since 2023. State officials said fraudsters, often posing as law enforcement or other authorities, pressured victims into depositing cash at crypto kiosks and sending irreversible cryptocurrency payments, with older adults disproportionately affected. Authorities cited 70 reported cases and more than $540,000 lost in the last year alone.
Governor Tim Walz signed the ban on May 4, and it took effect Saturday, requiring all existing crypto ATMs in the state to be removed by December 31. The move reflects growing concern over kiosk-enabled fraud, as officials said the machines were repeatedly used to facilitate scams that are difficult to reverse once funds are transferred.
Track how attackers are adapting to this technology.
6 events from the most recent confirmed update back to the earliest known activity.
On July 21, 2026, the Trump administration froze more than $1 billion in federal Medicaid funding to California and Minnesota over suspected fraud. CMS withheld more than $200 million from Minnesota while reviewing high-risk claims and documentation deficiencies.
Investigators said 70 cases of crypto ATM scam victimization were recorded in Minnesota last year, with more than $540,000 lost. Officials said the average loss per transaction was nearly $6,800.
Minnesota officials said residents have lost nearly $1 million in scams involving cryptocurrency ATMs since 2023, with criminals often targeting seniors through coercive payment schemes.
Minnesota's ban on cryptocurrency ATMs took effect on Saturday, making the statewide prohibition active. Existing crypto ATMs must be removed by December 31.
Days after the Medicaid funding freeze announcement, the Department of Justice said four Minnesota men pleaded guilty to stealing $2.2 million from the state's Medicaid-funded homeless assistance program.
Minnesota's statewide ban on cryptocurrency ATMs was signed into law by Governor Tim Walz. The measure barred installation of crypto ATMs in response to scam-related losses.
Follow how adversaries are adapting to this technology, and where it touches your stack today.
2 references tracked. Mallory keeps watching after this page renders.
Map indicators from this story to your assets and identify affected systems in minutes.
Every observed campaign, victim, and pivot linked to actors named in this story.
Malware, exploits, and IOCs connected to the activity described here.
YARA, Sigma, and Snort rules deployed to your SIEM as soon as they’re published.
Get matching new stories delivered to your team as they break — not the next morning.
Ask questions about this story and take action on the answers.
Other stories Mallory is tracking that overlap on entities, sources, or topic labels.
The FBI said Americans lost more than **$388 million** to scams involving cryptocurrency kiosks in 2025, based on more than **13,400 complaints** filed with the Internet Crime Complaint Center. The bureau said fraudsters commonly instruct victims to withdraw cash, visit a crypto ATM, and transfer funds to attacker-controlled wallets, with complaints rising **23%** and losses increasing **58%** from the prior year. People over 50 accounted for more than half of the complaints and reported over **$302 million** in losses, while Texas, Florida, and California together logged more than **3,300 complaints** and about **$112 million** in estimated losses. The warning comes as regulators and lawmakers intensify scrutiny of the crypto kiosk industry. Minnesota, Indiana, and Tennessee have moved to ban cryptocurrency kiosks statewide, and operators including Bitcoin Depot, CoinFlip, and Athena are facing growing legal and regulatory pressure; Bitcoin Depot has also filed for Chapter 11 bankruptcy, citing state bans and tighter rules. Federal officials said the kiosks are being used in scams including fake investments, tech support fraud, and romance scams, and urged the public to verify payment requests through official channels and avoid sending funds to online-only contacts or unknown parties.
Jun 29, 2026
The FBI’s Internet Crime Complaint Center reported more than **1,008,597** cybercrime complaints in 2025, with cyber-enabled fraud driving **$17.6 billion** in losses and accounting for **85%** of all reported losses. **Investment fraud** caused the most damage at **$8.6 billion**, followed by **business email compromise** at more than **$3 billion** and **tech support fraud** at **$2.1 billion**. Older adults were hit especially hard, with people aged 60 and above filing **201,266** complaints tied to about **$7.7 billion** in losses, while California, Texas, and Florida recorded the highest complaint volumes. Cryptocurrency-related crime was a major driver of the surge, with Americans reporting **$11.4 billion** in crypto scam losses across **181,565** complaints, up **22%** from the prior year. The FBI said many cryptocurrency investment scams are sophisticated, long-running schemes linked to organized criminal enterprises in Southeast Asia that use trafficked people as forced labor. The bureau also warned that ransomware remained a persistent threat, investigating more than **200** ransomware variants, actors, and enablers after identifying **63** new variants; ransomware complaints rose to **3,611** with more than **$32 million** in losses, and attacks affected **14 of 16** U.S. critical infrastructure sectors.
Jun 29, 2026
Multiple forms of cryptocurrency-related fraud and theft continue to impact individuals and organizations. Ongoing email and web-based scams promise large Bitcoin payouts, luring victims to fake chatbot sites and requiring them to pay conversion fees to criminal-controlled wallets. These campaigns often abuse platforms like telegra[.]ph and Google Forms to create convincing phishing pages. Meanwhile, the FBI reports a significant and rising trend in Bitcoin ATM fraud, with Americans losing at least $333 million in 2025, and scammers frequently targeting older victims. Law enforcement actions have included lawsuits against ATM providers accused of enabling or profiting from fraudulent transactions. In addition to direct scams, sophisticated attacks have leveraged previous data breaches to facilitate cryptocurrency theft. Investigations have traced ongoing wallet-draining attacks to the 2022 LastPass breach, where attackers obtained encrypted password vaults containing private keys and seed phrases. Victims with weak master passwords have been especially vulnerable, with stolen funds laundered through Russian exchanges. These incidents highlight the evolving tactics of cybercriminals in exploiting both technical vulnerabilities and social engineering to steal cryptocurrency assets.
Jun 29, 2026