Home
Cryptocurrency
Cryptocurrency News
Arizona Crypto ATM Law Helps 35 Scam Victims Recover $171,000 in Lost Funds

Arizona Crypto ATM Law Helps 35 Scam Victims Recover $171,000 in Lost Funds

Arizona’s refund scheme has helped 35 victims recover money from fraudulent crypto ATM transactions.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 13 August 2026 15:47 IST

Arizona Crypto ATM Law Helps 35 Scam Victims Recover $171,000 in Lost Funds

Photo Credit: Unsplash/John Paul Cuvinar

Arizona’s law requires victims to act quickly after fraudulent crypto ATM transactions

Click Here to Add Gadgets360 As A Trusted Source

Highlights

Victims must report scams within 30 days to seek refunds
New crypto ATM users face a $2,000 daily transaction limit
US crypto ATM scams caused $388 million in reported losses

The Arizona law on crypto ATMs has assisted 35 scam victims in recovering their refunds amounting to $171,332 (roughly Rs. 1.6 crore) since the bill became effective in September 2025, reports the Arizona Attorney General. In an interview, Arizona Attorney General Kris Mayes stated that the law assisted the victims in getting full refunds and urged citizens to report such fraudulent transactions before the 30-day deadline of the law. The recovery is a first indication of the effectiveness of the consumer protection scheme in Arizona, where states across the country are taking different approaches to the use of cryptocurrency kiosks, as outlined in House Bill 2387.

Transaction Limits Aim to Reduce Losses From Crypto ATM Scams

Victims are required to contact both the operator and the Attorney General within 30 days, and the victim needs to give the operator an official confirmation of being duped into making the transaction. Mayes' office did not disclose the names of the companies responsible for issuing refunds, and neither individual amounts nor amounts related to failed claims were disclosed. Thus, it is impossible to estimate from the statement released by the state how many eligible victims have gotten their refunds.

Crypto Atms Discussion

Crypto ATMs: Making Digital Assets More Accessible?

Explore More...

Restrictions on the daily transactions of new clients are set to a maximum of $2,000 (roughly Rs. 1.9 lakh) across all kiosks run by the operator. Meanwhile, existing clients are restricted by the cap of $10,500 (roughly Rs. 10 lakh) per day. When Arizona legislators introduced their client protection legislation, the first draft suggested limiting the daily cap to $1,000 (roughly Rs. 95,400) during the bill process.

Bitcoin Stays Range-Bound After US CPI Data

The refund findings in Arizona are in the context of a greater nationwide issue of fraud. According to information obtained from the FBI Internet Crime Complaint Center, there were more than 13,400 complaints associated with cryptocurrency kiosks in 2025, amounting to reported losses of more than $388 million (roughly Rs. 3,702 crore). The number of complaints went up by 23 percent in 2024, while losses increased by 58 percent. The majority of complaints were from people older than 50, who reported losses amounting to $302 million (roughly Rs. 2,882 crore).

On a global level, Australia is also battling a similar situation, as earlier this week, Australian regulators ordered a shutdown of Bitcoin ATMs operated by Cryptolink for three months due to ongoing concerns over their compliance with anti-money laundering requirements. According to AUSTRAC CEO Brendan Thomas, the Virtual Asset Service Provider (VASP) registration of the company is suspended for three months. This means that the crypto ATMs operated by the company will not work during this period.

Cryptocurrency is an unregulated digital currency, not a legal tender and is subject to market risks. The information provided in the article is not intended to be. It does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Further reading: Crypto ATMs, Crypto in US, Crypto Transactions, Crypto Frauds

Rahul Dhingra

Email Rahul Dhingra

Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More