Cryptolink ATMs are temporarily being taken out of service in Australia: AUSTRAC has suspended the registration of operator Cryptolink Pty for three months and ordered the shutdown of 96 cryptocurrency terminals across the country.
Why the Regulator Stopped the Cryptolink Network
The Australian Transaction Reports and Analysis Centre explained its decision by repeated violations of anti-money laundering and counter-terrorism financing rules. Before the suspension, Cryptolink Pty was a registered operator of cryptocurrency terminals in Australia with AUSTRAC. These requirements in Australia also apply to companies working with digital assets, including cryptocurrency and Bitcoin ATM services.
Back in October 2025, Cryptolink received a fine of 56,340 Australian dollars, or about 39,500 US dollars. The reason was delays in submitting transaction reports and weak risk controls. At that time, the operator agreed with AUSTRAC to engage independent auditors, review operations, and prepare a final report by March 2026 on how the violations would be addressed.
However, after submitting the initial materials, the company stopped providing information on transactions over 10,000 Australian dollars, which is about 7,000 US dollars. According to officials, Cryptolink also did not respond to regulator requests for additional information.
How Cryptolink Terminals Worked
The Cryptolink network has 96 crypto ATMs. Most of the terminals are located in Sydney, Melbourne, and Brisbane. While registration is suspended, these devices must remain offline.
Through these terminals, users could:
- buy cryptocurrency for cash;
- exchange cryptocurrency for cash if that function was enabled on a specific device;
- conduct transactions without visiting a bank or a traditional crypto exchange.
The main payment method was cash. Support for bank cards or other payment instruments depended on the settings of the specific service.
Key parameters of Cryptolink terminals:
- Single transaction limit: up to 5,000 Australian dollars, or about 3,530 US dollars.
- Additional limits: daily, weekly, and monthly restrictions could depend on operator rules and the client’s verification level.
- Available assets: ten cryptocurrencies.
Among the available assets were:
- Bitcoin;
- Ethereum;
- Dogecoin;
- seven more supported cryptocurrencies.
In industry terminology, such devices are called ATM, Cryptocurrency ATM, or Bitcoin ATM. Their operation is based on blockchain and public-key cryptography mechanisms, and access to transactions may be linked to a mobile app, crypto wallet, and other payment instruments, including debit card, if such a function is provided by the specific service.
What to Consider When Searching for and Using a Crypto ATM
Since the Cryptolink network is temporarily offline, it is best to check the nearest working crypto ATM before traveling: through the operator’s website, terminal map, or mobile app, if available.
Before a transaction, you should check the rate, commission, and possible currency conversion fee. Terms differ among operators and may change depending on the amount and direction of the exchange.
Purchasing usually takes several steps:
- select the cryptocurrency and amount;
- enter the wallet address or scan the QR code;
- deposit cash or choose another available payment method;
- check the rate, commission, and confirm the transaction.
Selling is possible only at terminals that support cash withdrawals:
- select cryptocurrency sale;
- send coins to the address shown by the terminal;
- wait for transaction confirmation;
- receive cash within the applicable limits.
To verify identity, the operator may request a phone number and a document, such as a passport or driver’s license. The higher the amount, the more often additional checks and limits are applied.
The main risks for users are an incorrect wallet address, non-transparent commission, fraudulent instructions from third parties, and transactions in unsafe locations. It is safer to check the terminal address in advance, not accept tips from strangers, verify the amount and commission before confirming, and use only your own wallet.
AUSTRAC Increases Pressure on the Crypto Sector
Previously, AUSTRAC assessed risks in the Australian crypto industry and stated that more than 400 registered crypto exchanges in the country, as well as over 5,000 money transfer services, are in a high-risk zone. The regulator links these risks to the possible use of digital assets for money laundering, fraud, and terrorism financing.
The situation with Cryptolink shows that Australian authorities are ready to take tough measures not only against large exchanges but also against operators of physical cryptocurrency terminals if they do not comply with reporting and transaction control requirements.
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