Tasmania Joins National Crackdown on Crypto ATM Scammers
Tasmania Police Cyber Investigations has announced findings from an operation identifying the top 15 users of crypto ATMs in the state, revealing all 15 are victims of scams. The total losses incurred by these victims exceeded AU$2.5 million ($1.6 million), with approximately AU$592,000 deposited into crypto ATMs.
The revelation coincides with Australia’s Federal Police and financial intelligence agency AUSTRAC spearheading a national enforcement effort against criminal use of crypto ATMs.
“Victims are being manipulated, intimidated and pressured into investing in fake investment and romance scams,” Tasmanian Detective Sergeant Paul Turner stated.
Turner clarified that victims often visited regular financial institutions first, after which they were subsequently directed towards using crypto ATMs by scammers to “invest.” He emphasized these scams are frequently high-value and cause victims severe impacts, potentially forcing them to deplete pensions or assets.
“If you are asked to deposit cash into a cryptocurrency ATM by someone you’ve never met in person, or the offer comes with a high-pressure deadline or urgent tone, then it is likely a scam.”
This crackdown follows AUSTRAC implementing new operational rules and transaction limits for crypto ATM operators in June, targeting scams. The agency has also identified cryptocurrency as a priority area for its activities in 2025.
Rapid Growth of Crypto ATMs in Tasmania
Turner highlighted the significant increase in Tasmanian casinos operating crypto ATMs, stating that while only one ATM existed in 2021, there are now at least twenty-four across the state, according to Coin ATM Radar data.
Australia ranks third globally for both Bitcoin and crypto ATM locations, behind the US and Canada. The total number of operational crypto ATMs across the nation has surged from 67 in August 2022 to over 1,890 currently.
Prominent crypto ATM providers identified in Australia are Localcoin (807 machines), Coinflip (691 machines), and Bitcoin Depot (212 machines).
International Measures Against Crypto ATMs
Similar efforts to control crypto ATM use are happening internationally. New Zealand banned the use of crypto ATMs, alongside imposing caps on international cash transfers, aimed at preventing money laundering and financial crime.
A US city, Spokane, Washington, has restricted access to crypto ATMs after its City Council banned them to address concerns over fraudsters. Existing machines are being removed, and new placements are being blocked.
