Consumer Group Warns Seniors about Bitcoin ATM Scams in Georgia

ATLANTA, Ga. (Atlanta News First) – A nonprofit consumer advocacy group is raising alarms about Bitcoin ATMs being used in scams that target elderly victims. These machines are increasingly popping up in convenience and liquor stores throughout Georgia, with nearly 1,000 locations found in metro Atlanta alone.

According to data, there were 4,250 Bitcoin ATMs in the U.S. in 2020, and this number surged to approximately 30,647 by August 2025. The FBI reported over 10,900 complaints related to these ATMs in 2024, leading to losses of $246.7 million by victims.

Bitcoin ATMs, also known as convertible virtual currency kiosks, allow users to convert cash into cryptocurrency. However, consumer advocates warn that scammers find these machines ideal for exploiting elderly individuals. When victims are coerced into sending money, they are often directed to the nearest Bitcoin ATM, making the transaction nearly untraceable.

Sandy Springs recently enacted regulations requiring mandatory registration for these ATMs and the display of scam warning signs. Similarly, Forsyth County implemented a regulation mandating a permit for installation and posting warnings about potential scams. Liz Coyle, the executive director of Georgia Watch, shared the story of a senior woman who lost thousands to such a scam. “The operator was there; the manager was there. He ultimately brought her a stool to sit on while she fed bills into the ATM,” Coyle recounted. “In most cases, there’s not clear signage that says this is not an ATM.”

Coyle emphasized that once money is placed into these machines, it essentially disappears. Unlike wire transfers, Bitcoin transactions cannot be traced or reversed. Georgia Watch advises families to educate their elderly members about these scams and to remain vigilant.

If someone asks to feed cash into a Bitcoin ATM, it is likely a scam. Victims or those who suspect they may have been scammed should contact authorities for guidance on next steps.