according to materials from the site - By Todayq News

Tasmania, previously untouched by scammers using cryptocurrency ATMs, has now been affected by a series of fraudulent activities. In a report published on July 11, 2025, the island's cyber investigation reported that the 15 largest users of cryptocurrency ATMs in the state became victims of fraud.

The report also noted that the total amount of losses from these frauds was 2.5 million Australian dollars. It is worth noting that about a third of this amount was deposited into cryptocurrency ATMs.

The growing trend indicates a significant channel for illegal money transfers and fraudulent operations. There has been a sharp increase in the number of cryptocurrency ATMs in the state: from one in 2021 to 20 in 2025, which not only raises interest in them but also increases their vulnerability.

Detective Sergeant Paul Turner stated that victims are often subjected to intimidation, pressure, or emotional manipulation, especially in cases of romance scams or fake investments. Many were directed to these ATMs after encountering resistance from their banks, suggesting that scammers exploit gaps in the financial oversight system.

He said: "In many cases, victims were directed by scammers to cryptocurrency ATMs after facing obstacles from their financial institution when trying to transfer money. We urge people to heed the advice of banks and, if in doubt, seek help from friends, family, or the police."

"If someone you have never met in person asks you to deposit cash into a cryptocurrency ATM, or the proposal is accompanied by tight deadlines or an urgent tone, it is most likely a scam," he added.

How large is the Australian cryptocurrency ATM market?
According to the data

CoinATMRadar reports that there are 1,895 cryptocurrency ATMs installed in Australia: there are 42 in Canberra, 74 in Newcastle, 418 in Sydney, and 238 in Brisbane.

According to AUSTRAC estimates, around 150,000 transactions worth approximately 275 million Australian dollars are conducted through these ATMs annually.

The majority of this amount consists of cash used to purchase cryptocurrencies such as Bitcoin and Ethereum. It is expected that by 2032, the global cryptocurrency ATM market volume will reach $7,575 million, with an annual growth rate of about 54.7%.

The rapid growth of cryptocurrency ATMs in cities like Sydney and Melbourne indicates a shift of large segments of the population from traditional financial products to cryptocurrencies.

Companies like Localcoin, Coinflip, and Bitcoin Depot dominate the category of cryptocurrency ATM production and service provision.

Brief overview of the cryptocurrency market
According to CoinMarketCap data, the market capitalization of cryptocurrencies has increased by more than 6.30%, reaching $3.68 trillion, while the trading volume amounted to $245 billion.

At the same time, the cryptocurrency fear and greed index reached 67, indicating colossal greed in the market. The price of Bitcoin was $118,123, which is 7% higher.

Ethereum has once again reached the long-awaited mark of $3,000, and at the time of writing, it was trading at $3,006, up 8.10%.

In the last 24 hours, Sei, Ethena, Story, Four, Worldcoin, Arbitrum, Maple Finance, Raydium, and Optimism have been in the green. On the other hand, the leaders of the week have been Bonk, Ethena, Raydium, Floki, Story, and Hedera.