Texans lost $56.8 million to cryptocurrency kiosk scams in 2025, more than any other state, according to FBI data presented to a legislative committee. The state accounted for 1,179 of the 13,460 complaints logged nationally, where reported losses surged 58% to $389 million. These machines, which convert cash to crypto and are located in gas stations and convenience stores, are used by scammers who trick victims into depositing money that ends up in unhosted wallets, making recovery nearly impossible. Indiana, Tennessee and Minnesota have banned the devices outright, and the Texas House Committee on Homeland Security, Public Safety and Veterans’ Affairs is now considering similar measures, with the chair hinting at upcoming legislation.
Source: Read the original article
