SAINT PAUL, Minn. — Attorney General Keith Ellison is alerting Minnesota residents about the risks associated with cryptocurrency ATM scams.
This advisory is part of the Scam Stopper series aimed at safeguarding consumers. Ellison expressed concern about the rise of cryptocurrency ATMs.
“While these ATMs are not scams themselves, many scammers trick their targets into sending money via cryptocurrency ATM because those transactions are virtually impossible to trace,” Ellison said. He advised against using cryptocurrency ATMs entirely.
The Attorney General’s Office has received numerous reports from scam victims using these ATMs. Federal Trade Commission data highlights a surge in losses: from $12 million in 2020 to $250 million in the first half of 2025. The median loss from cryptocurrency ATM scams is $10,000, starkly higher than the general median scam loss of $497.
Ellison’s office emphasizes that if a government agency asks for payment through a cryptocurrency ATM, it is likely a scam. They encourage reporting any fraudulent transactions to local law enforcement or the Minnesota Department of Commerce.
For those scammed, refunds may be available if reported within 72 hours of account creation. Victims should notify the ATM operator and a government or law enforcement agency promptly.