TL;DR: Cryptonews Australia reported on June 26, 2025 that “Olivia”, a Sydney woman in her 70s, lost more than AU$430,000 over two years, her life savings, after a dating app romance with a man claiming to be Belgian. She withdrew cash from ATMs and fed it into crypto machines. An AFP and AUSTRAC review flagged 90 crypto ATM users linked to scams, fraud or money-mule activity.
What happened
Cryptonews Australia, drawing on an AFP report and the ABC, tells the story of a Sydney woman in her 70s, named “Olivia” (not her real name). She met a man on a dating app who claimed to be a Belgian national working overseas. They had daily contact for several months. He persuaded her to invest in Bitcoin, showing fabricated documents with rapid returns, and coached her through her first transaction by phone.
How the money moved
- She withdrew cash from traditional ATMs and deposited it into crypto ATMs.
- Crypto ATMs convert physical cash directly into cryptocurrency, with no bank, wire transfer or name required, which makes them attractive for fraud.
- She lost more than AU$430,000 over two years, which she describes as her life savings. The article gives slightly different figures in places (a headline of $433K and a subheading of nearly $500K), so treat the total as approximate.
The AFP and AUSTRAC review
Authorities reviewed high-volume crypto ATM transactions nationwide and identified 90 users linked to scams, fraud or use as unwitting money mules. Of those, 21 were identified as victims or perpetrators of investment fraud, with many romance scams among them. AUSTRAC CEO Brendan Thomas said almost all of the transactions it referred involved victims rather than criminals. AUSTRAC is tightening oversight of the roughly 1,800 crypto ATMs in Australia.
Olivia said she became “quite an expert at using the bitcoin ATM” and that telling her daughter about the loss was the worst part. See our data on crypto kiosk scams and how US states are responding in IC3 crypto kiosk complaints.
Red flags
- A dating app partner overseas who turns the chat towards Bitcoin.
- Instructions to withdraw cash and deposit it at a crypto ATM.
- Being coached through each step by phone.
- Fake documents or screens showing fast returns.
If you have been affected, read realistic crypto scam recovery and report to Scamwatch. IDCARE offers free support. Run our free digital footprint check to see what is exposed.
Frequently Asked Questions
How much did the widow lose?
More than AU$430,000 over two years, her life savings, according to the article. Figures in the article vary slightly.
How did she pay?
She withdrew cash from ordinary ATMs and deposited it into crypto ATMs, coached by phone.
What did AFP and AUSTRAC find?
90 high-volume crypto ATM users linked to scams, fraud or money mule activity; almost all the transactions referred involved victims.
Are crypto ATMs regulated in Australia?
AUSTRAC is tightening oversight across the roughly 1,800 machines, according to the report.
Sources
- Cryptonews Australia: Aussie police crack down on crypto ATM scam nexus, exposing $433K widow's loss (Jun 26, 2025)
- Scamwatch (National Anti-Scam Centre)