Bitcoin Depot Bitcoin ATM operator reports $3.7 million hack - ForkLog: cryptocurrencies, AI, singularity, the future

# Bitcoin ATM Operator Bitcoin Depot reports $3.7 million hack

The largest cryptocurrency ATM operator Bitcoin Depot disclosed a theft of $3.7 million from corporate wallets. This is stated in a document filed with the SEC on April 8.

On March 23, an attacker gained unauthorized access to the company’s IT systems and took control of its cryptocurrency accounts. As a result, the criminal withdrew 50.9 BTC ( approximately $3.66 million ).

“After discovering the breach, the company promptly activated response protocols, engaged external cybersecurity experts, and notified law enforcement,” — the statement says.

Bitcoin Depot assured that the attack did not affect clients or their personal information. An investigation involving external specialists is ongoing. Insurance may cover part of the damages, but “there is no guarantee that this will be enough to compensate for all losses,” emphasized the operator’s representatives.

Regulatory Issues

The breach occurred amid increased regulatory pressure and operational difficulties.

In March, Connecticut authorities suspended Bitcoin Depot’s license for money transfers. The regulatory agency found that the operator exceeded the state-mandated fee limit of 15% on 1,015 transactions. As a result, 510 clients overpaid about $150 $426.

Bitcoin ATMs in the US are also continuing to shut down. Mass closures began in March 2025 after Illinois State Senator Dick Durbin proposed a bill to combat fraud in the crypto ATM sector.

Since the beginning of 2026, 666 such devices have ceased operation in the country.

Source: Coin ATM Radar.## Financial Performance

Bitcoin Depot reported a net profit of $4.7 million for 2025, compared to $7.8 million in the previous reporting period.

The company expects revenue from its core business to decline by 30-40% this year due to regulatory requirements in certain states and stricter compliance standards.

“Although our fraud prevention measures have effectively reduced consumer scams and protected clients, we anticipate that these efforts will lead to significantly lower revenue than in previous years,” — the company noted.

Following trading on April 8, Bitcoin Depot’s shares rose by 15.6%, closing at $2.74. However, over the past six months, the stock has fallen by 88%.

Source: Yahoo Finance. Remember, in November 2025, Bitcoin ATM operator Crypto Dispensers announced the sale of its business for $100 million. The reason was criminal prosecution of the company’s CEO.