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Gate Square New & Returning Creator Rewards are ongoing!
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The surge in cryptocurrency ATM scams is becoming increasingly alarming. Official data reveals a striking upward trajectory in fraud losses tied to these platforms.
Looking at the numbers: fraud losses climbed from $12 million in 2020 to $33 million the following year. By 2022, the figure had jumped to $78 million. The trend accelerated further—$114 million in 2023, then $247 million in 2024. Fast forward to 2025, and losses have reached $333 million.
That's nearly a 28x increase over five years. What's driving this? Criminals are evolving their tactics, targeting less-informed users at these machines. The data underscores a critical reality: as the crypto space expands, so do the schemes preying on it. Security awareness and exchange-level protections remain more important than ever.