North America’s largest Bitcoin ATM provider has halted operations across its entire machine network Bitcoin Depot has commenced voluntary Chapter 11 bankruptcy restructuring in the US Bankruptcy Court for the Southern District of Texas following severe financial distress. This legal filing resulted in the immediate shutdown of approximately 9,700 cryptocurrency teller machines positioned throughout convenience
The company’s continued weak performance has regulators concerned Connecticut regulators have temporarily halted operations of Bitcoin Depot, a major US cryptocurrency ATM provider, citing multiple alleged violations of state law. The Connecticut Banking Commissioner, through the Consumer Credit Division, issued a cease-and-desist order on March 9, suspending the company’s money transmission license. The action highlights
The breach may have impacted as many as 27,000 Bitcoin Depot customers Bitcoin Depot, a well-known operator of crypto ATMs, has only recently informed its customers about a data breach, despite the fact that it occurred over a year ago. The breach, which took place on June 23, 2024, exposed the private information of nearly
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