Crypto ATM Scams: Do Not Deposit Cash to “Protect” It
A caller who directs you to deposit cash in a cryptocurrency ATM to protect an account is setting up a payment to someone else, not safeguarding your money.
By ZoraSafe · Content reviewed
What the machine does
A cryptocurrency ATM can convert cash into cryptocurrency. In the FTC’s described scam, the caller supplies a QR code for the destination wallet and guides the person through the transfer. A familiar company or agency name does not make that destination trustworthy.
Sources: FTC: Scammers use Bitcoin ATMs to steal your money; FTC: Cryptocurrency and scams
Stop before following the payment instructions
An alleged account emergency is a reason to contact the real provider independently. Do not let the caller stay on the line to supervise your withdrawal or answers to bank staff.
- End the call before moving money.
- Contact your bank or investment provider using an established number.
- Do not scan the caller’s wallet code or make a test transfer to prove the process works.
If cash has already been deposited
Keep the receipt and transaction details. Contact the ATM operator and your financial provider through verified channels, and report the scam. Reversing cryptocurrency transfers can be difficult; no recovery service can guarantee your funds will return.
Sources: FTC: What to do if you were scammed; FTC: Refund and recovery scams
Sources and product references
Reviewed 2026-10-08. Source dates and scope matter; a linked source supports the associated guidance, not every claim about every product.