ABC News Daily Why crypto ATMs are a scammer’s best friend
Nov 9, 2025
Rhiana Whitson, an investigative business reporter for ABC, dives deep into the troubling rise of crypto ATMs and their connection to scams. She reveals how these machines have quickly proliferated across Australia, driven by a surge in cryptocurrency interest. Whitson shares harrowing stories, like that of a pensioner losing her life savings. She also discusses regulatory gaps, the challenges of tracing funds, and the need for urgent consumer awareness as criminals exploit these unregulated platforms.
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Rapid Growth And High Fees
- Crypto ATMs exploded from 23 in 2019 to over 2,000 across Australia, making them widespread in everyday shops.
- Operators profit from high fees and rent while bypassing typical online exchange checks.
One-Way Cash Flows To Offshore Wallets
- AUSTRAC found 99% of studied ATM transactions were deposits, not withdrawals, highlighting one-way cash flows.
- Deposits go instantly to online wallets, often offshore, avoiding normal bank checks.
Perth Pensioner Loses Life Savings
- Perth pensioner Dorothy Dial was convinced by scammers to withdraw $12,500 and deposit it into a crypto ATM as 'evidence'.
- Once the cash went into the machine it was effectively gone and couldn't be recovered locally.