Maine reaches $1.9 million settlement with Bitcoin ATM operator
TL;DR
Maine regulators have settled with Bitcoin ATM operator Bitcoin Depot for $1.9 million to compensate fraud victims, following a two-year investigation. The settlement also grants the company a legal license to operate in the state.
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[Maine Reaches $1.9 Million Settlement with Bitcoin ATM Operator] According to Mars Finance, citing Decrypt, Maine regulators have announced a $1.9 million settlement with cryptocurrency ATM operator Bitcoin Depot to compensate consumers who suffered losses due to third-party fraud. This agreement, reached after a two-year investigation, also grants the company a legal operating license in Maine. According to FBI data, losses related to cryptocurrency ATM fraud in the US reached $246 million in 2024, a 99% year-on-year increase, with 43% of victims being people over 60 years old. Scammers typically induce victims to convert cash into cryptocurrency and send it to fraudulent accounts.