Tasmania Police Alert on $1.5M Crypto ATM Scam Losses

Tasmania Police is urging users of cryptocurrency ATMs to remain vigilant following an investigation that identified significant financial losses suffered by Tasmanian scam victims.

Police identified that, over a three-month period earlier this year, Tasmanian victims lost more than $1.5 million, with funds deposited into cryptocurrency ATMs across the state.

The investigation forms part of a national crackdown on the criminal use of cryptocurrency ATMs, which are increasingly being exploited by offenders targeting victims of romance, investment and recovery scams.

Detective Sergeant Paul Turner said the number of cryptocurrency ATMs in Tasmania had increased significantly in recent years, growing from just one machine in 2021 to 28 statewide.

"A key warning sign of the cryptocurrency ATM is being asked to deposit cash into a cryptocurrency ATM by someone you have only met online or spoken to over the phone," said Detective Sergeant Turner.

"If someone you've met online, or a person who has contacted you unexpectedly, asks you to deposit cash into a cryptocurrency ATM, it is highly likely you are being targeted by a scam."

"Victims are being manipulated, intimidated and pressured into sending money to scammers involved in fake investment opportunities and online romance scams."