FBI data shows Texas led U.S. losses from crypto kiosk scams, prompting legislative scrutiny amid rising national fraud totals.
Texas residents lost $56.8 million to cryptocurrency kiosk scams in 2025, the highest of any state, according to FBI complaints presented to lawmakers. The state accounted for 1,179 of 13,460 national complaints, as losses surged 58% to $389 million nationwide.
Crypto kiosks, often located in gas stations and convenience stores, allow cash-to-crypto conversions but have become tools for scammers. Victims are coerced into withdrawing funds and depositing them into the machines. Indiana, Tennessee, and Minnesota have already banned such kiosks.
A Texas legislative committee heard testimony linking the kiosks to organized crime, including allegations of Chinese money laundering operations. Lawmakers are now weighing a potential ban as fraud complaints continue to climb.