Releases Cryptocurrency ATM Survey for the Public

In a bold move to combat rising crypto scams, Minnesota’s has launched a public survey targeting users of cryptocurrency ATMs. This initiative aims to gather crucial data from everyday Minnesotans who’ve interacted with these machines, shedding light on how scammers are exploiting them. If you’ve ever used a crypto ATM—even just once—this survey could help protect others from falling victim.

What Is the Cryptocurrency ATM Survey All About?

The survey is quick and straightforward, taking only a few minutes to complete. You can access it directly at www.ag.state.mn.us/Survey/Bitcoin-ATM. Questions cover key details like:

• Which company’s crypto ATM you used.
• Whether someone directed you to use a crypto ATM.
• If you lost money during the transaction.
• Other experiences that could reveal scam patterns.

Attorney General Ellison has even emailed the survey to consumers who’ve used ATMs from one of the nation’s top operators, making it easier for affected users to participate.

“Scammers and fraudsters are constantly developing new tools and tactics to steal money from hardworking Minnesotans, and it is essential for us to keep pace with them,” Ellison said. “Crypto ATMs have become one of the go-to methods that scammers use to extract money from their targets, which is deeply concerning to me.”

Ellison urges everyone: Fill out the survey to arm his office with the intel needed to fight back. And his general advice? Steer clear of crypto ATMs altogether. Even legitimate crypto buyers have safer options.

Why Crypto ATMs Are a Scammer’s Best Friend

Cryptocurrency ATMs, often found in convenience stores, gas stations, or malls, let users buy bitcoin or other cryptos with cash. They’re convenient but come with sky-high fees—sometimes 20% or more per transaction. More alarmingly, they’re nearly impossible to trace, making them perfect for fraudsters.

Scammers don’t run the ATMs themselves; they trick victims into using them. Common tactics include:

1. Romance scams: Building fake relationships online, then requesting crypto ATM deposits for “emergencies.”
2. Investment fraud: Promising huge returns if you buy crypto via an ATM and send it to their wallet.
3. Tech support scams: Posing as experts who demand immediate crypto payments.
4. Grandparent scams: Pretending a loved one needs urgent funds via crypto.

This survey follows a scam alert from December 19, part of a broader investigation by Ellison’s Consumer Protection Division into crypto ATMs in Minnesota.

Shocking Stats on Crypto ATM Fraud

The numbers are staggering:

• The FBI reports $246.7 million lost to crypto ATM-related frauds in 2024 alone.
• Washington, D.C.’s Attorney General sued Athena Bitcoin, alleging 93% of deposits to their ATMs came from scam victims.

These figures highlight a national crisis. Crypto ATMs aren’t inherently bad, but their anonymity fuels crime. Transactions convert cash to crypto instantly, bypassing banks and leaving no easy paper trail for reversals or investigations.

Safer Ways to Buy Cryptocurrency

Attorney General Ellison recommends avoiding crypto ATMs entirely. Here’s why and what to do instead:

Pro tip: Always enable two-factor authentication (2FA), research wallets, and never share private keys.

What to Do If You’ve Been Scammed

If a crypto ATM scam has hit you:

1. Report to local law enforcement immediately.
2. File with the Minnesota Department of Commerce.
3. Complete the Attorney General’s survey or submit a complaint.

Act fast—even if recovery seems unlikely, your report helps build cases against scammers and rogue operators.

The Bigger Picture: Regulating Crypto ATMs

Minnesota’s survey is part of a growing push for oversight. States like New York and California already require strict licensing for crypto ATM operators, including transaction monitoring and customer education. Nationally, the FBI and FTC are ramping up warnings.

Expect more action: Data from surveys like this could lead to new laws capping fees, mandating scam warnings on machines, or even limiting locations. For blockchain enthusiasts, this underscores the need for user education amid crypto’s mainstream growth.

Take Action Today

Don’t wait for the next scam headline. If you’ve used a crypto ATM, take the survey now. Share this post to warn friends and family. Together, we can make Minnesota—and the crypto world—safer.

Stay vigilant in the wild west of crypto. Better informed today means more secure tomorrow.

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