Arizona recovers $171,332 for crypto ATM scam victims under new law

Arizona Attorney General Kris Mayes announced that the state's crypto ATM refund law, House Bill 2387, has recovered $171,332 for 35 scam victims since September 2025. The law requires operators to reimburse defrauded new customers who report incidents within 30 days. This consumer protection effort comes amid a broader regulatory crackdown that has caused the US crypto ATM network to contract by 43.6% since 2022, addressing scams that cost Americans over $388 million in 2025.

Arizona crypto ATM refunds

• ▪Arizona House Bill 2387 defines a new customer as someone using an operator for fewer than 10 days and caps their daily transactions at $2,000.
• ▪Under Arizona House Bill 2387, crypto kiosk operators must refund eligible new customers for fraudulently induced transactions and associated fees if reported within 30 days.
• ▪Arizona's crypto ATM refund law has helped 35 scam victims recover a total of $171,332 since taking effect on September 26, 2025.

Global crypto ATM decline

• ▪The number of installed crypto ATMs in the United States decreased 43.6% from a peak of 35,037 units in August 2022 to 19,754 units on August 12, 2026.
• ▪The number of crypto ATMs globally dropped 31.3% from a peak of 40,072 units in December 2022 to 27,524 units on August 13, 2026.

Elderly scam victim losses

• ▪Arizona alone accounted for 460 crypto kiosk complaints and $14.53 million in losses in 2025, according to FBI data.
• ▪In 2025, the FBI recorded 13,460 complaints across the United States regarding crypto kiosks, resulting in losses of $388.98 million.
• ▪Individuals over 50 years of age accounted for more than half of the 2025 US crypto kiosk complaints, suffering losses of $302 million.

International crypto kiosk regulations

• ▪Germany's BaFin conducted a countrywide raid against crypto machines in 2024, and the UK's Financial Conduct Authority shut down 26 illegal machines in 2023.
• ▪Australia's financial regulator, AUSTRAC, temporarily suspended Cryptolink's operations on August 9, 2026, shutting down 96 machines.

US state crypto legislation

• ▪Since 2023, 30 US states have enacted laws regulating crypto kiosks, with 13 of those laws adopted in 2026.
• ▪A Hawaii law taking effect on October 1, 2026, will prohibit crypto kiosks from accepting US dollars in exchange for digital assets.

Cash-to-crypto illicit activity

• ▪According to TRM Labs, illicit activities make up approximately 1.2% of cash-to-crypto volumes, nearly double the 0.63% estimate for the broader crypto industry.
• ▪TRM Labs has traced over $160 million in illicit funds within cash-to-crypto volumes since 2019.

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