Data the FBI submitted to a legislative committee shows that Texas recorded $56.8 million in losses tied to cryptocurrency kiosks in 2025, spanning 1,179 complaints and ranking first among U.S. states by total losses. Nationwide, the FBI logged 13,460 related complaints, while reported losses rose 58% year over year to $389 million.
Crypto kiosks accept cash and convert it into cryptocurrency, and they are commonly placed in gas stations and convenience stores. Texas Tribune estimates there are about 4,000 such machines in Texas. According to the report, scammers often persuade victims to withdraw money from bank accounts and feed the cash into the machines.
Texas Department of Banking Deputy Commissioner Jesse Saucillo said recovery is nearly impossible once the funds are sent, with the money typically moving to non-custodial wallets and then through mixers. He added that AI-generated impersonations of police and state agencies have made phone-based scams more convincing. AARP data shows about 30 U.S. states have enacted laws related to crypto kiosks since 2023. Indiana fully banned the devices in March, followed by Tennessee and Minnesota, while Texas House committee chair Rep. Cole Hefner said the state will consider steps beyond regulation.
FBI data submitted to a legislative committee shows Texas recorded $56.8 million in losses tied to cryptocurrency kiosks in 2025, across 1,179 complaints. That was the highest loss total among all U.S. states.
Across the U.S., authorities received 13,460 related complaints, and reported losses rose 58% year over year to $389 million.
Texas has about 4,000 crypto kiosks
Cryptocurrency kiosks accept cash and convert it into crypto. They are commonly located at gas stations and convenience stores. Texas Tribune estimates that Texas has about 4,000 such machines.
According to the report, scammers persuade victims to withdraw money from bank accounts and deposit the cash into the machines.
Funds are hard to recover once sent
Jesse Saucillo, deputy commissioner of the Texas Department of Banking, said recovery is nearly impossible after the funds leave. He said the money usually moves to non-custodial wallets and then into mixers.
He also said AI-generated impersonations of police and state agencies have made phone-based solicitation more deceptive.
More U.S. states are passing kiosk laws
AARP data shows about 30 states in the U.S. have enacted laws related to cryptocurrency kiosks since 2023. Indiana fully banned the devices in March, and Tennessee and Minnesota followed.
Rep. Cole Hefner, chair of a Texas House committee, said the state will consider measures that go beyond regulation.
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