Massachusetts Senate targets crypto ATMs after $6.8M in losses

The Massachusetts Senate voted Thursday to prohibit crypto ATMs. It was attached to an omnibus economic development bill.

The action comes as FBI figures show kiosk-scam losses statewide last year totaled ~$7 million. Consumer advocates and elderly residents say the unregulated machines have become a cash pipeline for scammers.

Crypto ATM scams walk victims to the kiosk

The machines look just like normal cash dispensers. Hundreds sit inside convenience stores, pharmacies and liquor stores across the state.

Norfolk County Sheriff Patrick McDermott said it usually starts with a call or text, and then the victim is pressured into moving savings into Bitcoin. Cash goes into the machine, a QR code from the caller gets scanned, and the deposit converts and routes to an anonymous wallet in seconds. Once the cash is in there, it’s gone for good.

The FBI says it got 296 complaints about kiosk scams in Massachusetts in 2025, causing $6,834,561 in damage. That’s about $19,000 in reported losses per day spread out. That brought the bureau’s national total to $389 million stolen in that way over the past year.

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