Bitcoin Depot Pays $1.9M to Maine Scam Victims in Crypto ATM Case

Bitcoin Depot will pay $1.9 million to Maine residents defrauded via its crypto ATMs, following a two-year investigation. The settlement includes new consumer protections and a money transmitter license for the company.

Bitcoin Depot has agreed to a $1.9 million settlement with Maine regulators following a two-year investigation into scam losses linked to its cryptocurrency kiosks. The settlement will compensate Maine residents who lost funds to third-party scams conducted through Bitcoin Depot ATMs between 2022 and 2025. Eligible individuals must file claims by April 1, 2026, with refunds expected after processing. The agreement also grants Bitcoin Depot a money transmitter license, allowing it to operate legally in Maine, and requires the company to implement new consumer protection standards. Regulators accused Bitcoin Depot of failing to prevent fraud and misleading consumers about high fees and exchange rates, with some deductions reaching 23%. The case has prompted Maine to introduce stricter regulations on crypto ATMs, including daily transaction limits and fee caps, to enhance consumer protection. The settlement comes amid a nationwide crackdown on crypto ATM scams, with significant losses reported, particularly among older victims.