Cryptolink ATMs are being temporarily taken offline in Australia: AUSTRAC has suspended the registration of operator Cryptolink Pty for three months and demanded the deactivation of 96 cryptocurrency terminals across the country.
Why the Regulator Halted the Cryptolink Network
The Australian Transaction Reports and Analysis Centre explained its decision by citing repeated violations of anti-money laundering and counter-terrorism financing rules. Prior to the suspension, Cryptolink Pty was an AUSTRAC-registered operator of cryptocurrency terminals in Australia. These requirements in Australia also apply to companies dealing with digital assets, including services for cryptocurrency and Bitcoin ATMs.
Back in October 2025, Cryptolink was fined 56,340 Australian dollars, or approximately 39,500 US dollars. The reasons were delays in submitting transaction reports and weak risk controls. At that time, the operator agreed with AUSTRAC to engage independent auditors, review its operations, and prepare a final report by March 2026 on how the violations would be rectified.
However, after submitting initial materials, the company stopped sending reports on transactions exceeding 10,000 Australian dollars, roughly equivalent to 7,000 US dollars. According to officials, Cryptolink also failed to respond to the regulator's requests for additional information.
How Cryptolink Terminals Operated
The Cryptolink network consists of 96 crypto ATMs. The majority of the terminals are located in Sydney, Melbourne, and Brisbane. While registration is suspended, these devices must remain switched off.
Through such terminals, users could:
- buy cryptocurrency with 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 primary 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:
- Transaction limit: up to 5,000 Australian dollars, or about 3,530 US dollars.
- Additional limits: daily, weekly, and monthly restrictions could depend on the operator's rules and the customer's verification level.
- Available assets: ten cryptocurrencies.
Among the available assets were:
- Bitcoin;
- Ethereum;
- Dogecoin;
- seven other supported cryptocurrencies.
In industry terminology, such devices are called ATMs, Cryptocurrency ATMs, or Bitcoin ATMs. Their operation relies on Blockchain and Public-key cryptography mechanisms, and access to transactions may be linked to a Mobile app, a crypto wallet, and other payment instruments, including a 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's better to check the nearest working crypto ATM before your trip: via the operator's website, a terminal map, or a mobile app, if available.
Before a transaction, check the exchange rate, fees, and any possible currency conversion charges. Terms differ among operators and may change depending on the amount and direction of the exchange.
A purchase typically involves several steps:
- select the cryptocurrency and amount;
- specify the wallet address or scan a QR code;
- deposit cash or choose another available payment method;
- check the rate and fees, and confirm the transaction.
A sale is only possible in terminals that support cash withdrawal:
- select the option to sell cryptocurrency;
- send the coins to the address displayed by the terminal;
- wait for transaction confirmation;
- receive cash within applicable limits.
For identity verification, the operator may request a phone number and a document, such as a passport or driver's license. Higher amounts more frequently trigger additional checks and limits.
The main risks for users are an incorrect wallet address, non-transparent fees, fraudulent instructions from third parties, and operating in an unsafe location. It is safer to check the terminal's address in advance, not accept prompts from strangers, verify the amount and fees before confirmation, and use only your own wallet.
AUSTRAC Increases Pressure on the Crypto Sector
Earlier, AUSTRAC assessed risks in the Australian crypto industry and stated that over 400 crypto exchanges registered in the country, as well as more than 5,000 money transfer services, are in a high-risk zone. The regulator links these risks to the potential use of digital assets for money laundering, fraud, and terrorism financing.
The situation with Cryptolink shows that Australian authorities are prepared to apply strict measures not only to large exchanges but also to operators of physical cryptocurrency terminals if they fail to comply with reporting and transaction control requirements.
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