Overview
- The company began a phased U.S. rollout this month that extends identity checks from first-time onboarding to every purchase at its kiosks.
- CEO Scott Buchanan says continuous verification will flag suspicious patterns by customer, location, or amount before approval and deter account sharing and identity theft.
- Massachusetts Attorney General Andrea Campbell sued this month, seeking to bar transactions above $10,000 without extra anti-fraud steps and to require a refund process for victims.
- Bitcoin Depot agreed to a $1.9 million settlement in Maine to reimburse scam victims, while an Iowa Supreme Court ruling last year allowed the operator to keep deposits tied to scams.
- The largest U.S. operator, with about 9,019 kiosks, has seen its shares fall roughly 80% over six months as authorities highlight crypto-ATM fraud losses the FBI estimated at $333 million in 2025.