Bitcoin Depot, the largest US operator of cryptocurrency ATMs, lost approximately 51 BTC worth $3.7mn after hackers accessed corporate settlement accounts.
Bitcoin Depot Hack Drains $3.7mn in BTC, Shares Rise
10 April 2026 - 09:00 CEST
The breach, disclosed in an 8 Apr SEC filing, targeted the Atlanta-based company's internal systems rather than customer-facing infrastructure.
Credentials compromised
Hackers gained unauthorized access to Bitcoin Depot's IT systems on 23 Mar and took control of credentials linked to its digital asset settlement accounts. They transferred the bitcoin from company-controlled wallets, with the loss valued at roughly $3.7mn at the time of the theft.
The company promptly activated incident response protocols, engaged external cybersecurity experts, and notified law enforcement. Bitcoin Depot, founded in 2016, stressed that customer platforms, divisions, systems, data and environments were unaffected. No customer information was compromised.
Limited operational hit
Bitcoin Depot, which runs more than 9,000 Bitcoin ATMs and controls nearly 30% of the US crypto ATM market, said the incident has not had a material impact on daily operations. It maintains insurance that may cover some losses, though the ultimate financial effect could differ as the investigation continues.
Shares showed resilience despite the news. The stock closed at $2.84 on 9 Apr, up about 4% from its $2.74 close on the disclosure day.
Revenue warning persists
The hack comes as Bitcoin Depot navigates broader industry challenges. Full-year 2025 revenue rose 7% to $615mn, supported by kiosk expansion and higher median transaction sizes. However, the company has already projected a 30% to 40% decline in core business revenue for 2026 due to state-level regulatory uncertainty and enhanced compliance standards, including transaction size caps.
Crypto ATMs allow users to buy and sell bitcoin using cash at physical kiosks, serving as an on-ramp for retail investors. While this breach involved corporate funds, the sector has faced separate scrutiny over scam-related flows and occasional physical jackpotting attacks on traditional ATMs.
Bitcoin Depot has not issued a public statement beyond the filing.
