Bitcoin Depot launches ID checks as crypto ATM scams hit $333.5M

Bitcoin Depot has finally launched a new rule requiring ID checks for all transactions. The company introduced the new identity check to prevent crypto ATM fraud and improve its compliance program.

The Bitcoin ATM operator has begun a gradual implementation of the new rule. Customers must show ID for every transaction at its kiosks, as the company aims to improve protection against crypto ATM scams.

Bitcoin Depot has been in business since 2016 and has over 25,000 kiosks around the world. The company is the first major BTC ATM operator to require ID verification for each transaction.

The policy was activated this month and is now applied throughout Bitcoin Depot’s U.S. kiosks. It aims to “prevent account sharing, identity theft, and account takeover attempts as deployment continues.”

The release had no official word yet on deployment timing in other countries. But the rollout of the new policy in the United States comes after Bitcoin Depot faced rising complaints about BTC ATM scams.

Bitcoin Depot pays $1.9 million to scam victims

Bitcoin Depot will pay $1.9 million to Maine to settle claims involving scams on its machines, according to a report by Cryptopolitan.

The Bureau of Consumer Credit Protection (BCCP) spent two years investigating Bitcoin Depot’s kiosk operations. The probe was launched after residents filed complaints saying scammers had used the company’s kiosks to defraud them.

Bitcoin Depot must pay $1.9 million under the BCCP agreement to compensate Mainers who lost money to scams at its kiosks statewide.

Maine residents scammed via Bitcoin Depot kiosks qualify for refunds under the state settlement. Victims qualify if they lived in Maine from 2022 to 2025 and used a Bitcoin Depot kiosk there to convert cash to cryptocurrency. They must also have transferred the money to an unhosted wallet controlled by a scammer.

Victims must file a claim on or before April 1, 2026, and refunds are expected in May 2026.

Bitcoin ATM scams cost Americans $333.5 million

But Americans lost over $333.5 million to Bitcoin ATM scams in 2025, based on data from the Federal Bureau of Investigation (FBI). This number is far greater than what Bitcoin Depot is paying to Maine residents.

In 2024, the FBI reported losses of $250 million to crypto kiosk fraud. The figure has since increased by 33.4% to $333.5 million in one year.

Coin ATM Radar shows that the top 10 operators run 27,419 crypto ATMs in the United States. This equates to 87.7% of all crypto kiosks across the country. The remaining 12.3% or 3,838 crypto ATMs are managed by 131 operators.

The number of crypto ATMs has increased sharply in the U.S. from 4,251 to 31,256 kiosks spread across the country. In February 2026, 254 crypto kiosks were installed in the U.S. The speed of installations is averaging at 16 crypto kiosks daily. This creates more opportunities for scammers to target new victims.

Athena Bitcoin, a crypto ATM operator, received multiple lawsuits and enforcement actions.

The District of Columbia Attorney General sued the company last September. The lawsuit alleges Athena Bitcoin knowingly facilitated fraud through its crypto kiosks.

Authorities found that 93% of all deposits made through Athena Bitcoin ATMs were connected to scams. Around 50% of transactions had been flagged by the company as suspected fraud.

Investigators said the median age of victims was 71 years old. The median loss per scam transaction was $8,000, while one victim lost $98,000 through nineteen deposits made over several days.

Missouri’s attorney general, began a civil probe of multiple crypto ATM operators. This follows national worries about misleading fees and fraud by criminals.

The investigation is suspecting several crypto kiosk operators of breaking consumer protection laws and asks for details on their anti-fraud policies. CoinFlip, Rockitcoin, Bitcoin Depot, Athena Bitcoin, and Byte Federal were among the companies under investigation.

Despite efforts to stop crypto ATM scams, Americans continue to lose money. A Kansas farm family lost $20K in a crypto ATM scam that started with a fake iPad message from Apple support.

The scammer threatened the victim and manipulated her into withdrawing cash and depositing it into a crypto ATM, where the money was transferred and vanished within minutes.

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