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Texas lawmakers hear claims crypto kiosk scams cost residents $56.8M
FBI data cited at a Texas legislative committee showed national losses from crypto kiosks rose 58% in 2025 to $389 million across 13,460 complaints.
Texans reported $56.8 million in losses to crypto kiosks in 2025, the highest total among states, according to FBI figures presented to a Texas legislative committee on Thursday, as lawmakers weighed restrictions on the cash-for-crypto machines.
The FBI data said 1,179 of the 13,460 national complaints in 2025 involved Texas, and that reported losses across the U.S. increased 58% to $389 million. The kiosks, typically located in gas stations and convenience stores, let victims feed in cash and convert it to cryptocurrency after scammers persuade them to withdraw money from bank accounts.
Three states have already banned Bitcoin ATMs outright, including Indiana, Tennessee and Minnesota. Decrypt reports the House Committee on Homeland Security, Public Safety and Veterans' Affairs took invited testimony that described the scam approach as efficient, with witnesses also citing difficulties recovering funds once they move into cryptocurrency wallets.
Texas banking officials told lawmakers that once money is sent to an unhosted wallet, it can be routed through tools that make recovery very hard. Decrypt also noted that some states have added limits or refund requirements, including South Dakota caps and a Maine regulator settlement with Bitcoin Depot to reimburse victims.
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