Crypto ATM operator Bitcoin Depot reported a loss of approximately $3.7 million in Bitcoin following a hack of its internal corporate wallets. The breach occurred on March 23, but the company stated customer accounts and data were unaffected. Despite the loss, Bitcoin Depot noted the incident has not majorly impacted operations and insurance may cover some costs. The news coincided with a sharp rise in the company’s share price and ongoing regulatory pressures across multiple U.S. states.
Bitcoin Depot disclosed a loss of 50.9 Bitcoin, worth about $3.7 million, after a hacker accessed some internal systems. According to a regulatory filing, the March 23 breach involved credentials for corporate Bitcoin wallets.
The company confirmed customer accounts and personal data were not affected by this event. “As the investigation of the incident is ongoing, the full scope, nature and impact of the incident are not yet completely known,” the filing stated.
Bitcoin Depot said the attack has not had a major impact on daily operations. It added that insurance may cover some of the financial losses incurred.
Shares of the company jumped sharply following the disclosure, closing up 15.61%. Data from Yahoo! Finance showed additional pre-market gains pushed the price to $2.90.
The operator faces growing legal and regulatory pressure across several U.S. states. Its money transmission license was recently suspended in Connecticut, accompanied by a temporary cease-and-desist order.
The company has also faced a lawsuit from Massachusetts alleging overcharging and facilitating scams. It paid $1.9 million in Maine to compensate affected users.
This follows another data breach in June 2024 that exposed personal information of 26,732 customers. Authorities cleared the company to issue notifications after that probe concluded in June 2025.
U.S. cities are increasing pressure on crypto ATMs as fraud concerns mount. Stillwater, Minnesota, banned the machines after residents lost large sums to scams.
Spokane, Washington, introduced a citywide ban in June, calling the kiosks a “preferred tool for scammers.” Haverhill, Massachusetts, is also considering a ban citing fraud and money-laundering risks.
