Tasmania Hit by Spate of Crypto ATM-Related Scams

Over a dozen residents in Tasmania have been defrauded of approximately $1.64 million through scams involving cryptocurrency ATMs, with one victim losing over $493,000.

Scammers Exploit ATMs Amidst Rapid Expansion

More than a dozen residents of the Australian island state of Tasmania have been defrauded of an estimated $1.64 million through scams that exploited the use of cryptocurrency ATMs. According to a Tasmania Police investigation, one victim alone lost more than $493,176.

The investigation found that 15 individuals were responsible for the losses, with about $592,000 of the total amount deposited directly into crypto ATMs by the victims. The victims, with an average age of 65, suffered an average loss of about $108,500. Detective Sergeant Paul Turner of the Tasmania Police said all the victims who deposited large amounts of money were victims of a scam.

“The victims of these scams, they suffer lifelong impacts,” Turner said. “In some cases, it delayed retirements. It meant that victims were forced to sell assets and then become reliant on social services and payment.”

According to a local report, the scams varied, often using tactics like intimidation, threats, and promises of high financial returns to manipulate victims. The most common scams were identified as romance, investment, government, and tech support. The report said scammers typically initiated contact by phone, email, or social media before moving the conversation to encrypted messaging apps like WhatsApp or Telegram to facilitate the crime.

The investigation comes as the number of crypto ATMs in Tasmania has surged from just one in 2021 to 21 today, located in public places like supermarkets and bottle shops. This trend mirrors a national surge in crypto ATMs, with the financial crime regulator AUSTRAC estimating the number has grown from about 60 in 2022 to an estimated 1,600 as of March 2025.

AUSTRAC has also found that the victims of these scams are overwhelmingly middle-aged or older. People over 50 years of age account for nearly 72% of crypto ATM transactions, with people aged 60 to 70 among the most prolific users.

AUSTRAC chief executive Brendan Thomas said that federal regulation has so far failed to keep up with the expansion of the cryptocurrency sector. Despite a national crackdown on the criminal use of crypto ATMs, police acknowledge that the true extent of these scams is likely unknown due to limited resources.