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Taking Aim at Cryptocurrency Fraud in Georgia

AARP Georgia is hosting a series of events to educate consumers about cryptocurrency scams. It's also pushing for legislation to regulate crypto ATMs.

Jaime Sarrio,

AARP

Published March 01, 2026

photo illustration with computer circuitry and the word crypto

Getty Images

Jennifer Woodruff has survived two hurricanes — one literal, on figurative.

One was Hurricane Helene: In 2024, the storm destroyed her art studio, her car and her house in Asheville, North Carolina. The other, in 2022, was losing $550,000 in a series of cryptocurrency scams.

Criminals targeted Woodruff, now 49 and living in Atlanta, through romance and investment scams. She went from being an art teacher and owning multiple rental properties to living with a friend while trying to rebuild her life.

“It’s more damaging than people realize,” Woodruff says. “You can’t physically see the landslides or mudslides or the trees toppled over or the houses caved in, but that’s what it feels like on the inside. The scams were way worse than the hurricane.”

Georgia consumers reported $198 million in losses to cryptocurrency-related crimes in 2024 — a 66 percent increase from 2023, according to the FBI. However, officials say the true number is far higher since fraud is significantly underreported.

To combat the problem, AARP Georgia will host a series of events educating Georgia consumers on how to protect themselves from scams involving cryptocurrency. AARP Georgia is also working with state officials on legislation targeting crypto fraud. Details about AARP’s upcoming fraud prevention events can be found by going to aarp.org/events/find.

Older Americans are particularly affected by crypto scams. In 2024, people over 60 had the most crypto complaints and losses of any age group, accounting for 30 percent of complaints and 41 percent of reported losses — totaling $2.8 billion, FBI data shows. The 40-49 age group had the second-highest percentage of complaints and losses, at 20 percent and 21 percent, respectively.

Regulating Crypto ATMs

Scams involving crypto come in familiar variations: an unpaid fine from a government agency, a lottery win that requires an upfront fee, a call from a loved one in dire straits asking for money.

Criminals who previously may have asked unwitting consumers to buy gift cards or wire cash as forms of payment are turning to crypto. Cryptocurrency ATMs — physical kiosks that resemble traditional bank ATMs and can be found in gas stations and other local businesses — make such transactions that much easier.

Criminals convince a victim there is an emergency that requires immediate payment, says Capt. Brad Williams, criminal investigations and internal affairs commander for the Peachtree City Police Department, south of Atlanta. The criminal keeps the victim on the phone during the scam until the transaction is complete, Williams notes. Often, the money is immediately transferred overseas—where many criminals are based—making it difficult for law enforcement to recover.

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“Crypto ATMs, in my opinion, are extremely predatory,” Williams says. “They are there to help facilitate scammers.”

In 2025, 14 states passed laws to help protect consumers from crypto ATM-related fraud, such as setting daily transaction limits, mandating ATM operators be licensed and requiring that warning signs be posted near the machines, according to AARP. In all, 17 states have passed such laws in recent years, with AARP playing a key role in advocating for the protections.

Georgia requires the kiosks to be licensed, but state officials are planning to introduce additional protections based on what has worked in other states, says Georgia Commissioner of Banking and Finance Bo Fears.

“To the extent there are frauds and scams being carried out through these money transmission entities, we have a duty to protect consumers,” Fears says.

Requiring “trusted contacts,” who can be reached by bank officials who suspect fraud, is one layer of security the state is exploring. Fears notes that changes in the payment industry have increased the speed of transactions but also made fraud easier because there is less time and fewer opportunities to allow a victim to pause and reflect on the situation.

Officials say that education is another critical tool in battling cryptocurrency fraud. Williams, with the Peachtree City police, says his department has held information sessions for about 1,000 residents in churches, senior centers and retirement communities. It is also planning to reach out to younger adults in their 30s, 40s and 50s.

For Woodruff, in Atlanta, she says she has found support by connecting with other people who have been targeted by scammers and hopes to one day be able to help others.

“I want to be able to see some justice,” she says. “And I would like people to be able to be whole again — not just me.”

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Jaime Sarrio is a writer, editor and communications consultant who covers state and local government, women's health, education, fraud and other topics. She has written for the Bulletin since 2025.