From NBC Bay Area · · 1m 20s
Bonta warns against crypto ATMs and scams
California AG urges caution with crypto ATMs after $11.4B in crypto scams.
In brief
California AG urges caution with crypto ATMs after $11.4B in crypto scams. California Attorney General Rob Bonta advises against using crypto ATMs due to scam risks after $11.4 billion lost to crypto scams in 2025. Originally reported by NBC Bay Area.
Crypto scams cost $11.4 billion
Americans lost about $11.4 billion to cryptocurrency-related scams in 2025, according to the FBI's Internet Crime Center.
Bonta warns of crypto scams
California Attorney General Rob Bonta warned residents Monday to be on the lookout for several different types of fraud and scams related to cryptocurrency.
Crypto ATMs risky
Bonta singled out cryptocurrency ATMs as one of the riskiest crypto products and said they should never be used.
Rug pull scams
Rug pull scams involve attracting investors, driving up prices, then suddenly selling shares to drop prices for investors.
Rug pull targets
Recent rug pull scams have been reported against President Donald Trump, Hunter Biden, and influencer Hailey Welch.
Crypto ATMs in SF
There are at least 60 crypto ATMs in San Francisco, many located in Safeway grocery stores.
Bonta's advice
Bonta advised victims to ignore threats, block scammers, and verify contacts before sharing personal information.
Senate Bill 1208
Senate Bill 1208 will help recover stolen cryptocurrency by allowing courts to return funds even when perpetrators are outside US jurisdiction.
The one thing
California Attorney General Rob Bonta advises against using crypto ATMs due to scam risks after $11.4 billion lost to crypto scams in 2025.
