Tasmania Police has contacted more than 15 Tasmanians, including scam victims and suspected money mules, as part of a national crackdown on the criminal use of cryptocurrency ATMs knowns as CATMs.
As part of the operation, Tasmania Police Cyber Investigations identified no legitimate CATM activity across the top 15 users in the state, with all users found to be involved in scams.
The investigation found the 15 victims had suffered combined losses of $2.5 million – including about $900,000 deposited to cryptocurrency ATMs.
Detective Sergeant Paul Turner said since 2021, the number of cryptocurrency ATMs in Tasmania increased from one to 20 statewide.
“Victims are being manipulated, intimidated and pressured into investing in fake investment and romance scams,” he said.
“Victims in many cases were directed to crypto ATMS by the scammers after receiving friction from their financial institution when trying to transfer funds. We urge people to listen to the advice provided by the banks and when in doubt seek advice from friends, family or police.
“These scams are often high value and can have sever and lifelong impacts on victims., including victims becoming dependant on pensions, forced to sell assets or delay retirement, families being forced to take on financial support roles and reduced overall economic activity within Tasmania.”
Common cryptocurrency scams include romance scams, investment scams, government or utility scams, tech support scams, and job scams.
“If you are asked to deposit cash into a cryptocurrency ATM by someone you’ve never met in person, or the offer comes with a high-pressure deadline or urgent tone, then it is likely a scam,” Detective Sergeant Turner said.
“Other warning signs include being promised high returns or guaranteed profits.”

What to do if you’ve been scammed
• Cut all contact with the scammer immediately.
• Notify your digital currency exchange provider or bank immediately.
• Don’t send any more money.
• Report it to police and to Scamwatch.