An ongoing sting operation by Australian authorities has revealed heartbreaking details of a romance scam that cost a 77-year-old widow her entire life savings. According to the country’s financial intelligence agency, AUSTRAC, the woman was tricked into sending over 433,000 Australian dollars (approximately $282,000) through Bitcoin ATMs over an 18-month period.
The widow believed she was in a two-year online relationship with a man claiming to be Belgian. Unbeknownst to her, the entire affair was orchestrated by a fraudster who lured her into investing in cryptocurrency under the guise of shared financial opportunity. He backed his claims with fabricated documents showing fake profits and personally guided her through her first transaction.
The woman described carrying up to $13,000 in cash at a time, frequently spending “half a day’s work” depositing funds into crypto ATMs. Eventually, she became adept at using the machines — unaware she was being systematically exploited.
“The worst part was having to tell my daughter that I’d actually given my life savings, that had taken me 40 years to earn,” she said in a statement to ABC News.
Most Crypto ATM Users in Probe Turned Out to Be Victims
As part of its wider crackdown, Australian police zeroed in on high-volume crypto ATM users suspected of engaging in illicit activity or falling prey to fraud. Of the 90 individuals identified, 21 were contacted directly—some were suspected mules, others were clear victims.
Surprisingly, investigators found that most of the transactions referred by AUSTRAC were not linked to organized crime, but instead involved scam victims. One person has been formally charged with property laundering offenses, while four others received official cautions. Some were suspected of using crypto for drug purchases or aiding criminals, while others were simply trying to retrieve stolen funds.
Officials acknowledged that in some cases, scam victims had become so entangled they unknowingly acted as money mules. Others were reluctant to admit they’d been conned. In response to rising abuse, AUSTRAC rolled out stricter transaction rules for crypto ATM operators earlier this month. The move follows crypto being named a regulatory priority for 2025.
Love, Profits, and Lies: The Common Traps Behind Crypto ATM Fraud
Authorities say the surge in crypto ATM scams is largely driven by manipulative schemes involving romance, fake job offers, bogus investment opportunities, and time-sensitive promises of high returns. These scams often originate online and play on victims’ emotions or lack of digital fluency.
“If you’re promised fast profits, pressured to act urgently, or have never met the person you’re dealing with, stop and report them,” said AFP Commander Graeme Marshall.
He added that no legitimate agency would ever ask for crypto payments.
Between January 2024 and January 2025, Australia’s ReportCyber system logged 150 separate complaints linked to crypto ATM fraud, with total losses surpassing AU$3.1 million ($2 million USD). The trend highlights the need for greater education and safeguards, particularly for elderly and vulnerable demographics who remain prime targets.
Quick Facts
- A 77-year-old widow in Australia was defrauded of $282,000 via Bitcoin ATMs over an 18-month online dating scam.
- Australian police have charged one and cautioned four others in a broader crackdown on crypto ATM misuse.
- Most crypto ATM cases referred by AUSTRAC involved victims, not criminals, authorities said.
- Over AU$3.1 million in losses have been reported from crypto ATM scams between Jan 2024 and Jan 2025.
