Stay confident in today’s economy with useful tips and enter our $26K Sweepstakes!

Content starts here

AARP Massachusetts Calls for a Ban on Cryptocurrency ATMs Amid Growing Scam Threats

AARP

atm exchange bitcoin electronic international currency vector illustration

Getty Images

Cryptocurrency ATMs, also known as crypto kiosks, are popping up in convenience stores, gas stations, and other everyday locations across Massachusetts. They look familiar, often resembling traditional bank ATMs. But behind that familiar appearance is a growing threat that is costing residents, especially older adults, their life savings.

That is why AARP Massachusetts is calling for a statewide ban on cryptocurrency ATMs.

These machines have become a favored tool for scammers. Criminals routinely pressure victims to withdraw cash and deposit it into crypto kiosks, where the money is quickly converted into cryptocurrency and sent away. Once the transaction is complete, the funds are almost always unrecoverable. Unlike traditional banking systems, crypto kiosks operate without meaningful consumer protections, leaving victims with little or no recourse.

AARP’s Fraud Watch Network™ Helpline is hearing from more and more people who have lost significant sums of money through crypto ATM scams. Many report being rushed, manipulated, and coached step by step by scammers who stay on the phone until the transaction is complete.

The scope of the problem is staggering. Americans lost more than $333 million to crypto kiosk scams between January and November 2025, with more than 12,000 cases reported to the FBI. A 2024 investigation by the Iowa Attorney General found that nearly all funds reported as sent through major crypto kiosks were connected to scams.

Here in Massachusetts, the risks are no longer theoretical. Attorney General Andrea Joy Campbell filed a lawsuit against cryptocurrency kiosk operator Bitcoin Depot, alleging that company employees warned leadership that nearly all large transactions were tied to scams. According to the Attorney General’s Office, more than 80 percent of customers who spent $10,000 or more at Bitcoin Depot kiosks between August 2023 and January 2025 did so in connection with scam activity. Nearly 60 percent of the company’s Massachusetts-based revenue during that period came from those transactions.

Most Popular

AARP Massachusetts previously supported legislation that would have required basic consumer protections, including clear scam warnings, transaction limits, and accountability for kiosk operators. But as scams have continued to rise and losses have mounted, it has become clear that these measures are not enough.

“A ban on crypto ATMs is now the most effective way to stop the ongoing damage,” said Jen Benson, state director of AARP Massachusetts. “Despite our efforts to push for straightforward consumer protections, these machines continue to operate without safeguards, causing people to lose their life savings. It’s clear that more decisive action is needed.”

AARP Massachusetts is not opposed to cryptocurrency itself. The organization supports responsible innovation and policies that protect consumers. But when a product consistently enables fraud and puts residents at risk, action is necessary.

Older adults are being targeted again and again, and the financial and emotional toll can be devastating. AARP Massachusetts believes banning cryptocurrency ATMs is a critical step to protect residents across the Commonwealth and prevent more families from experiencing irreversible financial loss.