Crypto ATM Scams Drain Millions From Wyoming Residents

In recent years, a quiet but devastating crime wave has swept across Wyoming, draining millions of dollars from unsuspecting residents and leaving law enforcement scrambling to keep up. The culprit? Not masked bank robbers or sophisticated cyber-hackers, but rather the proliferation of crypto ATMs—those unassuming machines tucked away in convenience stores and gas stations, looking for all the world like regular ATMs, but capable of moving money across the globe in seconds. According to reporting from Cowboy State Daily and confirmed by AARP estimates, there are now approximately 45 crypto ATMs scattered throughout Wyoming, with 11 located in Cheyenne alone.

These machines, while legal and intended for legitimate cryptocurrency transactions, have become a favorite tool for international con artists. The scam typically works like this: fraudsters, often posing as government officials, law enforcement, or even romantic interests, convince victims to deposit cash into a crypto ATM. Once the money is converted to cryptocurrency and sent, it vanishes into a labyrinth of digital wallets—split, rerouted, and laundered across borders—making recovery virtually impossible.

The scale of the losses is staggering. As of early 2026, more than $4.6 million has been siphoned from Wyoming’s three largest cities alone, with Gillette accounting for a jaw-dropping $3 million of that total. Cheyenne Police Sgt. Kevin Malatesta told Cowboy State Daily that crypto ATMs were involved in at least $600,000 worth of scams in Cheyenne during 2025. Sheridan Police Officer Liz Shafer reported $1.5 million in losses over a two-year period ending in the fall of 2025, with not a single dollar recovered. "Scammers use these methods because that money cannot be retrieved," Shafer said. "We’re having some success with cash that’s been mailed, because we can intercept that. But if you put it into a crypto ATM, that money is gone."

Unfortunately, these numbers likely understate the true extent of the problem. Many victims never report their losses, either out of embarrassment or because they believe nothing can be done. In Gillette, Detective Alan Stuber estimated that local police and the Campbell County Sheriff’s Department handle between 75 and 100 crypto ATM fraud cases every year, totaling around $3 million. And the trend is not confined to a single city—it stretches from Sheridan in the north to Cheyenne in the south, touching nearly every corner of the Cowboy State.

Why have crypto ATMs become such a magnet for scammers? Sgt. Malatesta explained that it’s partly because these machines lack the kind of human oversight found in traditional banks. "Bitcoin ATMs don’t require a cashier or teller, both of whom have been trained to notice behavior that might suggest someone has become the victim of a scam," he told Cowboy State Daily. In the past, scammers often relied on prepaid gift cards or money orders, but as retailers and banks have stepped up their defenses, fraudsters have shifted to crypto ATMs, where there are no watchful eyes or awkward questions to slow them down.

The tactics used by these criminals are as varied as they are ruthless. They might impersonate law enforcement officers, claiming the victim owes fines or faces arrest unless they pay up immediately. Sometimes, they concoct elaborate stories about a loved one in danger, or dangle the promise of romance or riches. The goal is always the same: to induce panic and keep the victim on the hook. "They make threats, whether it’s a city bill, whether it’s a warrant out for their arrest," Stuber told lawmakers during a recent legislative preview session hosted by AARP. "And they’re smart. They’ll figure out, I mean our names are in the newspaper, so they’ll use our names and say, ‘Hey, this is Detective Stuber with the police department. You have a warrant out for your arrest, so we need this money right away.'"

In some cases, the schemes become shockingly elaborate. Officer Shafer recounted an $800,000 con that included mailing gold and silver bars for "safekeeping"—and even flying a person into Wyoming to collect money in person. "To me, that’s terrifying," Shafer said. "And we were able to intercept one person. I can’t talk anymore about that one (due to ongoing investigations), but somebody literally flew into Wyoming and came to the victim’s house to get the money." In another instance, scammers went so far as to contact a local taxi company and send a driver to a victim’s home, just to hand over a phone so the con artists could resume their manipulations after relatives had intervened.

The emotional toll on victims is often as severe as the financial loss. Many are seniors living on fixed incomes, targeted precisely because they are perceived as vulnerable. And the losses can accumulate over weeks, months, or even years. "For a lot of the victims of these scams, it’s a long-term thing," Malatesta said. "So, they’re giving money over the course of a couple of months, couple of weeks, or, in some cases, even a year or two." For law enforcement officers on the front lines, the hardest part is often telling victims that their money is gone for good. "Getting that money back, I have seen zero success stories on that front," Shafer said. "I mean because you put it into a wallet, which is a random string of letters and numbers, and the scammer is waiting for it, and they instantly move it to another one. They’ll split it up from there and move it to another one."

Authorities are not standing idle. Shafer and others have launched community education campaigns to help residents recognize the warning signs of these scams. They encourage anyone who suspects they’ve been targeted to report the incident to law enforcement and to federal resources like www.ic3.gov or reportfraud.ftc.gov. While the odds of recovering lost funds are slim, these reports help authorities track trends and, occasionally, link individual cases to larger investigations.

Meanwhile, lawmakers are considering new regulations to stem the tide of fraud. Campbell County Representative Ken Clouston is preparing a bill that would require crypto ATMs to adhere to rules set by the state banking division, including transaction limits and prominent warnings on the machines themselves. "Having a limit on daily transactions, for example, would help ensure people can’t lose thousands of dollars in a single day," Stuber suggested. Clear disclosures about transaction fees and risks could also help consumers make more informed choices.

Still, the fight is far from over. As scammers become more creative and persistent, law enforcement and lawmakers alike face a daunting challenge. But with increased vigilance, better education, and stronger regulation, Wyoming hopes to turn the tide against a crime wave that has already cost its residents dearly.

For now, authorities urge everyone to stay alert, ask questions, and think twice before transferring money—especially when a crypto ATM is involved. As Officer Shafer put it, "Once (the money) is out of the country, I’m done. It doesn’t matter how far I track it. I could track it all the way to the house it got withdrawn at (in Jamaica). I have no jurisdiction there." The message is clear: in the world of crypto ATMs, an ounce of prevention is worth far more than a pound of cure.