Bitcoin Depot Reaches $1.9 Million Settlement with Maine, to Refund Scammed Retail Investors

Odaily News: According to monitoring by the Maine Bureau of Consumer Credit Protection, Bitcoin Depot has reached a $1.9 million settlement with the state to resolve an investigation into losses from scams involving its cryptocurrency kiosks. Under the settlement agreement, Bitcoin Depot will provide compensation to Maine residents who transferred funds to third-party scammers through its machines between 2022 and 2025. Additionally, the company has obtained and will legally operate a money transmission business license in the state, contingent upon full compliance with Maine's Consumer Protection Law.

The Maine Bureau of Consumer Credit Protection stated that eligible victims must submit their claims by April 1, 2026. Previously, FBI data showed that cryptocurrency kiosk-related scam losses in the United States reached $246 million in 2024. Maine passed emergency legislation last year that limits the daily transaction caps and fee percentages for such devices.