Tasmanian island, once untouched by crypto ATM scammers is not hit by a series of scams. In a report published on July 11, 2025, the cyber investigation of the island said that it has found the top 15 users of crypto ATMs in the state were all victims of scams.
The report also notes that the collective amount lost in these scams was 2.5 million Australian dollars. It is worth noting that around ⅓ of it was deposited in the crypto ATMs.
The growing pattern indicates a significant channel for illicit fund transfer and scam operations. The state has witnessed a dramatic spike in the number of crypto ATMs rising just one in 2021 to 20 in 2025 selecting not only growing interest but also increasing vulnerability.
Sergeant Paul Turner, a detective, said, victims are often intimidated, pressured, or emotionally manipulated, particularly in romance or fake investment scams. Many were steered towards these machines after facing resistance from their banks, suggesting scammers are exploiting financial oversight gaps.
He said, “ Victims in many cases were directed to crypto ATMS by the scammers after receiving friction from their financial institution when trying to transfer funds. We urge people to listen to the advice provided by the banks and when in doubt, seek advice from friends, family, or police.”
“If you are asked to deposit cash into a cryptocurrency ATM by someone you’ve never met in person, or the offer comes with a high-pressure deadline or urgent tone, then it is likely a scam,” he added.
How big is the Australian crypto ATM market?
According to the data from CoinATMRadar, there are 1,895 cryptocurrency ATMs in Australia, with Canberra alone having 42 machines, Newcastle has 74 cryptocurrency ATMs, Sydney has 418 machines offering crypto services, and Brisbane has 238 machines.
AUSTRAC estimates that around 150,000 transactions are made annually through these machines, moving approximately 275 million Australian dollars.
From the entire amount, the majority of the portion is a cash deposit which is used to buy cryptos like Bitcoin and Ethereum. The global crypto ATM market size is expected to reach $7,575 million by 2032, with around an annual growth of 54.7%.
The skyrocketing pace of installation of crypto ATMs in cities such as Sydney and Melbourne indicates the shifting stance of the aware masses from traditional financial products to cryptocurrencies.
Companies such as Localcoin, Coinflip, and Bitcoin Depot dominate the crypto ATM manufacturing and service-providing category.
A quick overview of the crypto market
As per the data from CoinMarketCap, the cryptocurrency market capitalization has surged more than 6.30% reaching $3.68 trillion, and the trading volume is $245 billion.
At the same time, the crypto fear and greed index was at 67, indicating immense greed in the market, and Bitcoin is recorded at $118,123 with a massive addition of 7%.
Ethereum has reclaimed the much-awaited mark of $3k, and when writing, it is exchanging hands at $3,006 with an addition of 8.10%.
Over the past 24 hours, the gainers are Sei, Ethena, Story, Four, Worldcoin, Arbitrum, Maple Finance, Raydium, and Optimism. On the other hand, weekly toppers are Bonk, Ethena, Raydium, Floki, Story, and Hedera.
