Crypto Kiosk Fraud: What You Need to Know During Cybersecurity Awareness Month

If there is one thing we know for certain about cybercriminals, it’s that they are constantly looking for new ways to separate people from their money.

A recent trend involves cryptocurrency kiosks – sometimes called crypto ATMs. These machines, which are most often found in convenience stores, gas stations, and other retail locations, allow users to convert cash into cryptocurrency. While legitimate in purpose, these kiosks are being used by scammers to steal money from unsuspecting victims.

According to the FBI’s Internet Crime Complaint Center, complaints involving cryptocurrency kiosks resulted in losses exceeding $388 million in 2025 – a 58% increase over 2024.

How the scam typically works

Like so many other fraud schemes, the crypto kiosk scam relies on creating a sense of urgency and fear that is designed to make the potential victim act quickly and impulsively.

A crypto kiosk scammer may claim to be:

• A government official investigating suspicious activity
• A technology company representative alerting you to a computer problem
• A bank employee reporting fraudulent transactions
• A law enforcement officer claiming your accounts are at risk

Typically, the targeted victim is instructed to withdraw cash immediately and deposit it into a crypto kiosk to "protect" their funds. Once the cryptocurrency is transferred, the money is usually gone for good.

What are some common warning signs?

Be especially cautious if someone:

• Pressures you to act immediately
• Instructs you to keep the situation secret
• Claims your money is in danger unless you move it to cryptocurrency right away
• Asks you to withdraw large amounts of cash

Your best defense against the crypto kiosk scam – or any other scam attempt, for that matter – is to remain calm and skeptical. It’s also worth noting that legitimate organizations are very unlikely to ask you to move money to a cryptocurrency account for safekeeping.

Old National's Commitment to Fraud Prevention

At Old National, protecting clients from fraud is a constant focus and a top priority. Through fraud monitoring, educational resources, security awareness initiatives, and ongoing client outreach, we work hard to help individuals recognize evolving scams and safeguard their finances.

At the same time, we know fraudsters are constantly changing their tactics. That’s why awareness remains one of the most effective forms of protection.

During Cybersecurity Awareness Month, we encourage you to take a few minutes to learn about emerging threats and review the fraud-prevention resources available here on oldnational.com. Getting better informed is the best decision you can make today to protect your personal information and your financial well-being.