The annual transaction limit for Australian encrypted ATMs has been set at 5000 Australian dollars, after cryptocurrency ATM fraud resulted in losses of over 3 million US dollars in one year

According to Cointelegraph, the Australian financial intelligence agency AUSTRAC announced new regulations on June 3, setting a single cash deposit and withdrawal limit of 5000 Australian dollars (approximately 3250 US dollars) for encrypted ATMs and strengthening customer due diligence and transaction monitoring. The new regulations aim to crack down on fraud related to encrypted ATMs, especially targeting older users. According to AFP, between January 2024 and January 2025, the Australian cybercrime reporting platform ReportCyber received 150 fraud cases involving cryptocurrency ATMs, with a cumulative loss of $3.1076 million and an average loss of over $20000 per case. Nearly half of the victims were over 51 years old. The main types of fraud include investment, ransomware emails, and "pig killing schemes". The data indicates that the annual transaction volume of encrypted ATMs is as high as 275 million US dollars, and the actual losses of related fraud may be seriously underestimated. The police warn that once the transfer is made, it is almost impossible to recover it, and call on the public to be vigilant.