Atlanta, Ga. (Atlanta News First) – Georgia WatchA nonprofit consumer advocacy group is warning about Bitcoin ATMs and their use in scams targeting elderly victims.
The machines are appearing in convenience stores and liquor stores throughout Georgia. An online search found nearly 1,000 Bitcoin ATM locations in metro Atlanta.
According to a notice from the Financial Crimes Enforcement Network, there were 4,250 of these ATMs in the United States in 2020. As of August 2025, there were approximately 30,647.
In 2024, the FBI’s Internet Crime Complaint Center recorded 10,956 complaints involving ATMs and reported that victims lost $246.7 million to scams using them.
ATMs, also known as convertible virtual currency kiosks, allow users to put cash into the machine and convert it into cryptocurrency. Consumer advocates said they are the perfect tool for scammers preying on the elderly.
Scam coverage from ANF investigators
Some states, as well as city and county governments, have added regulation on ATMs, adding a mandatory registration as well as requiring warnings to be posted on the machines.
Sandy Springs passed a regulation requiring both last year. The Forsyth County government recently passed regulation mandating that ATMs require a permit before they can be installed, as well as warning about scams and the risks.
Once a victim is convinced to send money, the scammer directs them to the nearest Bitcoin ATM, where the transaction remains untraceable.
Liz Coyle, executive director of Georgia Watch, described a case involving a Georgia woman who lost thousands of dollars.
“An older woman had thousands of dollars in cash, relatively small bills,” Coyle said. “She went to one of these crypto ATMs. The operator was there; the manager was there. He eventually brought out a stool for her to sit on while she was putting the bill in the ATM.
“In most cases, there are no obvious signs that indicate it is not an ATM.”
Coyle said that when money is put into these machines, it essentially disappears. Unlike some wire transactions, there is no way to trace or stop Bitcoin ATM transactions.
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Georgia Watch advises people to talk to elderly parents about scams. If a stranger asks you to put cash into a Bitcoin ATM, you are probably being scammed.
What to do if you think you have been scammed?,
- Stop sending money immediately. Do not follow any other instructions from the caller.
- Save everything: receipts, kiosk locations, dates/times, dollar amounts, wallet address/QR codes, texts/emails and call logs.
- Report this immediately to FBI IC3 and FTC. Also contact your local police department and request a report number.
- If you withdrew cash from a bank or credit union to feed the kiosk, notify your bank’s fraud department. Ask about account holding, monitoring and any possible recovery steps.
- Contact the kiosk operator’s customer support (usually posted on the machine) to document the incident. Provide receipt and wallet address.
- Talk to trusted family members—especially older adults—and consider blocking calls/texts to prevent repeated contact from scammers.
How to protect loved ones,
- Make a house rule: No paying bills, fines, or fees through crypto ATMs. Sometimes. Legitimate businesses and government agencies will not demand payment this way.
- Discuss common scams (tech support, romance, “grandparenting” emergencies) and establish a call-back plan so no one acts alone under pressure.
- If you see a crypto ATM, treat it like a high-risk instrument. Read any warning signs and never scan a QR code given by a stranger.
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