Bitcoin Depot discloses $3.7M BTC theft in cybersecurity breach

Crypto ATM relation Bitcoin Depot revealed that it mislaid astir 50.9 Bitcoin, worthy astir $3.7 million, aft a hacker gained entree to immoderate of its interior systems.

The breach happened connected March 23 aft the attacker took power of credentials linked to Bitcoin Depot’s firm Bitcoin (BTC) wallets, according to a Monday filing with the US Securities and Exchange Commission. The institution said that lawsuit accounts, platforms and idiosyncratic information were not affected.

Bitcoin Depot added that the onslaught has not had a large interaction connected regular operations, and said it has security that whitethorn screen immoderate of the losses. “As the probe of the incidental is ongoing, the afloat scope, quality and interaction of the incidental are not yet wholly known,” the filing states.

Shares of Bitcoin Depot jumped sharply connected Wednesday, closing astatine $2.74, up $0.37 oregon 15.61% connected the day, with further gains successful pre-market trading pushing the terms to $2.90, a further 5.84% increase, according to information by Yahoo! Finance.

Related: Bitcoin Depot enters Hong Kong arsenic portion of Asia expansion

Bitcoin Depot nether pressure

Bitcoin Depot has been facing increasing ineligible and regulatory unit crossed respective US states. The institution precocious had its wealth transmission licence suspended successful Connecticut, on with a impermanent cease-and-desist order, with regulators citing violations specified arsenic precocious fees and nonaccomplishment to afloat refund scam victims.

The institution has besides faced a suit from Massachusetts alleging overcharging and facilitating scams, and paid $1.9 cardinal successful Maine to compensate affected users.

The US has much than 30,000 Bitcoin ATMs. Source: CoinATMRadar

In June 2024, Bitcoin Depot besides experienced a information breach that exposed the idiosyncratic accusation of 26,732 customers. The breach was linked to an outer system, and authorities cleared the institution to contented notifications lone aft the probe concluded successful June 2025.

Related: Australia’s fiscal watchdog whitethorn summation powerfulness to prohibition crypto ATMs

US cities determination to prohibition crypto ATMs

US cities are expanding unit connected crypto ATMs arsenic concerns implicit fraud grow. Stillwater, Minnesota, has banned crypto ATMs aft residents mislaid ample sums to scams, portion Spokane, Washington, introduced a citywide prohibition successful June, calling the kiosks a “preferred instrumentality for scammers” pursuing a spike successful fraud cases.

Haverhill, Massachusetts, is besides considering banning crypto ATMs, with a projected ordinance citing fraud and wealth laundering risks that would necessitate each machines to beryllium removed wrong 60 days if approved.

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