Audit log

Every state-changing event for Bitcoin Depot: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-09-01 12:10:04Z
   Score: ? → ? (no score change)
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   ●mainnet-betaslot 443,527,125

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   2MV9uTfdd2a9…hbAkHHREcopyexplorer ↗

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   8ioxJbGyTkAh…QnX5L2cQcopysha256 → base58

   verifying row…full verify ↗

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   {"actor":"system:backfill","investigation_id":"87fee4fc-b081-4a85-ad3e-38fe6be61b29","kind":"publish","page_slug":"bitcoin-depot","published_at":"2026-09-01T12:10:04.080Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Bitcoin Depot","sections":[{"content":"Bitcoin Depot Inc. was founded in Atlanta, Georgia in June 2016 by Brandon Mintz, who served as CEO through December 2025. The company's stated mission was to connect cash-preferring consumers to the broader digital financial system through cryptocurrency kiosks. Bitcoin Depot went public on July 3, 2023 via a SPAC merger with GSR II Meteora Acquisition Corp., listing on the Nasdaq under the ticker symbol BTM. The merger was valued at approximately $885 million. At its peak, Bitcoin Depot operated approximately 9,700 kiosks across North America and held a market share exceeding 20% of the North American crypto ATM industry, making it the largest such operator on the continent. In addition to standalone kiosks, the company operated a BDCheckout product at name-brand retail locations. Brandon Mintz transitioned out of the CEO role effective January 1, 2026, with Scott Buchanan appointed as CEO. Alex Holmes, formerly Chairman and CEO of MoneyGram International, was named Chairman and CEO effective March 24, 2026, weeks before the company's collapse.","heading":"Company Background","severity":"low","sources":[{"credibility":2,"name":"Bitcoin Depot Founder and CEO Brandon Mintz Honored in Forbes 30 Under 30","type":"official","url":"https://ir.bitcoindepot.com/news-events/press-releases/detail/58/bitcoin-depot-founder-and-ceo-brandon-mintz-honored-in"},{"credibility":2,"name":"Crypto ATM Operator Bitcoin Depot's Stock Rises 12% in Stock Debut — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2023/07/03/crypto-atm-operator-bitcoin-depot-debuts-on-nasdaq-following-spac-merger"},{"credibility":2,"name":"Bitcoin Depot Names Alex Holmes CEO and Chairman — IR press release","type":"official","url":"https://ir.bitcoindepot.com/news-events/press-releases/detail/125/bitcoin-depot-announces-executive-chair-ceo-transition"}]},{"content":"Bitcoin Depot Inc. and 16 affiliates filed voluntary Chapter 11 petitions in the United States Bankruptcy Court for the Southern District of Texas on May 18, 2026 (Case No. 26-90528, before Judge Christopher M. Lopez). The company simultaneously deactivated its entire fleet of approximately 9,700 kiosks overnight. At the time of filing, the company reported $11.3 million in assets against $26.9 million in liabilities. The company stated it intended to wind down operations, sell assets, and establish a liquidation trust. CEO Alex Holmes attributed the collapse to regulatory pressure, stating that 'States have imposed increasingly stringent compliance obligations, including new transaction limits, and in some jurisdictions, outright bans on BTM operations.' The company also disclosed a 49.2% revenue decline year-over-year in Q1 2026, posting a $9.5 million net loss compared with $12.2 million in net income a year earlier. On May 12, 2026, the company had notified the SEC it could not submit its first-quarter 2026 report on time due to a material weakness in cash handling controls and had issued a going-concern warning. A Chapter 11 liquidation plan was confirmed by the bankruptcy court on August 10, 2026, with the plan becoming effective on August 24, 2026. Restructuring administration is handled by Kroll.","heading":"Chapter 11 Bankruptcy Filing and Wind-Down","severity":"critical","sources":[{"credibility":1,"name":"Bitcoin Depot Initiates Voluntary Chapter 11 Process — IR press release","type":"official","url":"https://ir.bitcoindepot.com/news-events/press-releases/detail/127/bitcoin-depot-initiates-voluntary-chapter-11-process-to"},{"credibility":2,"name":"Bitcoin Depot, North America's largest bitcoin ATM operator, files for bankruptcy — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/05/18/bitcoin-depot-once-north-america-s-largest-bitcoin-atm-operator-files-for-bankruptcy"},{"credibility":2,"name":"Bitcoin Depot Hits Ch. 11, Blaming Crypto Crackdown — Law360","type":"news_article","url":"https://www.law360.com/articles/2478846/bitcoin-depot-hits-ch-11-blaming-crypto-crackdown"},{"credibility":1,"name":"Bitcoin Depot Wins Approval Of Plan With Release Limits — Law360","type":"court_filing","url":"https://www.law360.com/articles/2511771/bitcoin-depot-wins-approval-of-plan-with-release-limits"},{"credibility":1,"name":"Bitcoin Depot Inc - Restructuring Administration Cases (Kroll)","type":"court_filing","url":"https://restructuring.ra.kroll.com/bitcoindepot/"},{"credibility":2,"name":"Bitcoin Depot stock plummets after filing for Chapter 11 bankruptcy — Seeking Alpha","type":"news_article","url":"https://seekingalpha.com/news/4594252-bitcoin-depot-says-it-filed-for-chapter-11-bankruptcy-in-texas"}]},{"content":"Multiple state attorneys general filed lawsuits alleging that Bitcoin Depot knowingly facilitated large-scale crypto fraud against consumers, with particular harm to elderly victims. These are allegations contained in civil complaints; no court has issued a final adjudication on the merits of these claims.\n\nThe Massachusetts Attorney General Andrea Joy Campbell filed suit against Bitcoin Depot Inc. and Bitcoin Depot Operating LLC on February 3, 2026, alleging the company used deceptive tactics to overcharge consumers, removed fraud safeguards despite internal employee warnings, refused refunds to victims while retaining commissions of up to 30%, and misled investors about scam activity levels. The Massachusetts complaint alleged that employees estimated as early as 2021 that approximately 90% of major customers were scam victims, that over 80% of customers spending $10,000 or more used kiosks for scam-related transactions during August 2023 through January 2025, and that nearly 60% of total Massachusetts revenue originated from fraudulent transactions during that period — amounting to approximately $10 million in alleged scam-related revenue from Massachusetts consumers alone.\n\nThe Iowa Attorney General separately filed suit against Bitcoin Depot, alleging that scams accounted for more than half of all money taken in by Bitcoin Depot in Iowa over a roughly three-year period ending in 2024, representing more than $7 million in alleged scam transactions. The Iowa investigation also alleged that 98% of reported transactions through Bitcoin Depot ATMs in the state were scam-related.\n\nIn 2025, the FBI documented $389 million in reported losses nationally from crypto ATM and kiosk fraud — a 58% increase year-over-year from 13,460 complaints. Elderly Americans (over 60) accounted for $257.4 million of those reported losses. The FBI figures cover the broader crypto ATM industry and are not specific to Bitcoin Depot alone. An investigation by ICIJ and CNN identified at least $1.5 million in allegedly fraudulent transactions passing through Bitcoin Depot machines installed in Circle K convenience stores. These are reported figures, not adjudicated findings against Bitcoin Depot specifically.","heading":"Consumer Harm: Alleged Facilitation of Crypto Scams","severity":"critical","sources":[{"credibility":1,"name":"AG Campbell Sues Bitcoin Kiosk Operator for Facilitating Crypto Scams — Massachusetts AG official press release","type":"regulatory","url":"https://www.mass.gov/news/ag-campbell-sues-bitcoin-kiosk-operator-for-facilitating-crypto-scams-against-massachusetts-consumers"},{"credibility":2,"name":"Massachusetts sues Bitcoin Depot, alleging the crypto ATM operator knowingly facilitated crypto scams — ICIJ","type":"news_article","url":"https://www.icij.org/investigations/coin-laundry/massachusetts-sues-bitcoin-depot-alleging-the-crypto-atm-operator-knowingly-facilitated-crypto-scams/"},{"credibility":2,"name":"Iowa Attorney General sues 2 crypto companies — Yahoo News","type":"news_article","url":"https://www.yahoo.com/news/iowa-attorney-general-sues-2-003802576.html"},{"credibility":1,"name":"Scammers notched $333 million from bitcoin ATM scams in 2025, FBI says — ABC News","type":"news_article","url":"https://abcnews.com/US/scammers-notched-333-million-bitcoin-atm-scams-2025/story?id=128526877"},{"credibility":2,"name":"Crypto ATMs Extracted $389M From Elderly Victims in 2025 — TechTimes","type":"news_article","url":"https://www.techtimes.com/articles/323934/20260811/crypto-atms-extracted-389m-elderly-victims-2025-austrac-us-states-crack-down.htm"},{"credibility":2,"name":"Crypto ATM operator Bitcoin Depot files for bankruptcy — ICIJ","type":"news_article","url":"https://www.icij.org/investigations/coin-laundry/crypto-atm-operator-bitcoin-depot-files-for-bankruptcy/"}]},{"content":"Bitcoin Depot faced escalating regulatory enforcement across multiple US states in the period leading up to its bankruptcy filing.\n\nConnecticut: On March 9, 2026, the Connecticut Department of Banking issued an Order and Notice of Summary Suspension and Notice of Intent to Revoke Bitcoin Depot's money transmission license, summarily suspending the company's license pending revocation proceedings. The Department alleged that Bitcoin Depot's conduct materially prejudiced consumer interests and that the company failed to maintain the required minimum tangible net worth in 2022 and 2023.\n\nWashington: On June 11, 2026 (post-bankruptcy), the Washington State Department of Financial Institutions took formal action seeking to revoke Bitcoin Depot's license, prohibit the company from the industry, and impose a $1.5 million fine against the company's responsible individual. Regulators alleged the company charged customers up to 42% above market rates, failed to comply with Anti-Money Laundering and Bank Secrecy Act requirements, neglected suspicious activity monitoring and fraud detection, failed to verify customer identity, conducted due diligence only after $100,000-plus transactions, and provided no fee disclosures in more than 30,000 virtual currency transactions. DFI Director Charlie Clark stated: 'Washington will not allow such businesses to profit by enabling fraud and charging excessive and undisclosed fees while ignoring regulatory requirements.'\n\nNevada and Maine both settled enforcement actions with Bitcoin Depot, requiring payment of fines and compliance with state rules. Missouri's attorney general opened an investigation into the firm. Indiana became the first US state to ban crypto ATMs outright in March 2026, and Tennessee followed with a statewide ban effective July 1, 2026, both citing fraud concerns, though these bans applied to the broader industry rather than specifically to Bitcoin Depot.","heading":"State Regulatory Actions and License Revocations","severity":"critical","sources":[{"credibility":1,"name":"Washington State DFI Takes Action Against Bitcoin Depot Operating, LLC","type":"regulatory","url":"https://dfi.wa.gov/news/press/washington-state-dfi-takes-action-against-bitcoin-depot-operating-llc"},{"credibility":2,"name":"Washington State Seeks to Revoke Bitcoin Depot License, Pursues $1.5 Million Fine — Dailyfly News","type":"news_article","url":"https://www.dailyfly.com/2026/06/12/washington-state-seeks-to-revoke-bitcoin-depot-license-pursues-1-5-million-fine/"},{"credibility":2,"name":"Bitcoin Depot Struggles With Regulatory Pressure and Weak 2026 Outlook — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/connecticut-bitcoin-depot-license-halt-stock-slide"},{"credibility":2,"name":"Bitcoin Depot's License Revoked in Connecticut; ATM Industry Faces Stricter Regulation — KuCoin","type":"news_article","url":"https://www.kucoin.com/news/flash/bitcoin-depot-s-license-revoked-in-connecticut-atm-industry-faces-stricter-regulation"},{"credibility":2,"name":"Tennessee becomes second state to ban cryptocurrency ATMs over scam concerns — The Record","type":"news_article","url":"https://therecord.media/tennessee-bans-cryptocurrency-atms-over-scams"}]},{"content":"On March 23, 2026, Bitcoin Depot discovered that attackers had gained control of credentials linked to the company's digital asset settlement accounts. The breach was publicly disclosed on April 8, 2026 via a Form 8-K filed with the SEC. Approximately 50.9 bitcoin, valued at roughly $3.66–3.7 million at the time of the theft, was transferred out of company-controlled wallets. The company reported that the breach was limited to its corporate environment and did not affect customer platforms, systems, or data. Bitcoin Depot stated it activated incident response protocols, engaged external cybersecurity experts, and notified law enforcement upon detection. The breach occurred approximately six weeks before the bankruptcy filing and added to the company's disclosed material weaknesses.","heading":"Security Breach: $3.7 Million Stolen from Corporate Wallets","severity":"high","sources":[{"credibility":2,"name":"$3.6 Million Stolen in Bitcoin Depot Hack — SecurityWeek","type":"news_article","url":"https://www.securityweek.com/3-6-million-stolen-in-bitcoin-depot-hack/"},{"credibility":2,"name":"Bitcoin Depot Reports $3.7 Million Stolen In Wallet Security Breach — Bitcoin Magazine","type":"news_article","url":"https://bitcoinmagazine.com/news/bitcoin-depot-reports-3-7-million"},{"credibility":2,"name":"Bitcoin Depot hack leads to $3.6M Bitcoin theft via stolen credentials — Security Affairs","type":"news_article","url":"https://securityaffairs.com/190578/cyber-crime/bitcoin-depot-hack-leads-to-3-6m-bitcoin-theft-via-stolen-credentials.html"},{"credibility":2,"name":"Security Breach: Bitcoin Depot Discloses $3.7M Crypto Theft From Internal Wallets — Crowdfund Insider","type":"news_article","url":"https://www.crowdfundinsider.com/2026/04/272274-security-breach-bitcoin-depot-discloses-3-7m-crypto-theft-from-internal-wallets/"}]},{"content":"The overnight shutdown of all approximately 9,700 kiosks on May 18, 2026 left users unable to access funds associated with in-progress or pending kiosk transactions, as outstanding transaction funds were frozen under Chapter 11 rules. Multiple state securities regulators issued consumer alerts in the weeks following the filing. The Arkansas Securities Department identified at least 19 Arkansas consumers owed a total of $33,312 in refunds (amounts ranging from $382 to $7,500) and directed affected consumers to file claims through the bankruptcy proceedings. The Alaska attorney general's office similarly notified Alaskans who lost money in Bitcoin-related scams of potential compensation eligibility through the bankruptcy estate. The North Carolina Office of the Commissioner of Banks issued a formal notice to Bitcoin Depot customers. The liquidation plan confirmed August 10, 2026 and effective August 24, 2026 established the framework for distributing remaining assets, though recovery amounts for individual consumers through a liquidation trust in a case reporting only $11.3 million in assets against $26.9 million in liabilities are likely to be limited.","heading":"Consumer Impact: Trapped Funds and Ongoing Compensation Efforts","severity":"critical","sources":[{"credibility":1,"name":"Bitcoin Depot files for bankruptcy, Arkansas consumers may be eligible for compensation — Arkansas Securities Department","type":"regulatory","url":"https://securities.arkansas.gov/bitcoin-depot-files-for-bankruptcy-arkansas-consumers-may-be-eligible-for-compensation/"},{"credibility":1,"name":"Alaskan Consumers Who Were Scammed Using a Bitcoin Depot May Be Eligible for Compensation — Alaska DOL press release","type":"regulatory","url":"https://law.alaska.gov/press/releases/2026/071426-Bitcoin.html"},{"credibility":1,"name":"Notice to Customers of Bitcoin Depot — NC Office of the Commissioner of Banks","type":"regulatory","url":"https://nccob.nc.gov/financial-institutions/money-transmitters/bitcoin-depot-consumer-notice/download?attachment="},{"credibility":2,"name":"Bitcoin Depot bankruptcy leaves Arkansans owed refunds, state warns — White River Now","type":"news_article","url":"https://www.whiterivernow.com/2026/07/07/bitcoin-depot-bankruptcy-leaves-arkansans-owed-refunds-state-warns/"},{"credibility":2,"name":"Bitcoin Depot Bankruptcy Freezes 9,000 Crypto ATMs Overnight — CryptoNews.net","type":"news_article","url":"https://cryptonews.net/news/other/32946524/"}]},{"content":"Bitcoin Depot's collapse occurred against the backdrop of an accelerating national regulatory crackdown on crypto ATM operators. The FBI reported $389 million in crypto kiosk fraud losses in 2025, a 58% year-over-year increase based on 13,460 complaints. Indiana became the first US state to ban crypto ATMs outright in March 2026. Tennessee's governor signed a blanket ban effective July 1, 2026, citing approximately $142 million in state-level crypto scam losses in 2025. Regulators in Australia (AUSTRAC) and Canada proposed or enacted similar restrictions. The broader crypto ATM industry experienced significant contraction in the first half of 2026, with Gizmodo and other outlets characterizing the collapse of Bitcoin Depot as representative of a sector-wide failure driven by regulatory closure of the fraud-tolerant compliance environment that had allowed the industry to grow. None of this broader context constitutes a finding against Bitcoin Depot specifically, but it forms the regulatory backdrop against which the company's failure occurred.","heading":"Broader Industry Context and Regulatory Trend","severity":"high","sources":[{"credibility":2,"name":"Tennessee bans crypto ATMs statewide, joining Indiana in fraud crackdown — The Block","type":"news_article","url":"https://www.theblock.co/post/398800/tennessee-bans-crypto-atms-statewide-joining-indiana-fraud-crackdown"},{"credibility":2,"name":"Americans lost $333 million to Bitcoin ATM fraud in 2025 — FBI says — Tom's Hardware","type":"news_article","url":"https://www.tomshardware.com/tech-industry/cryptocurrency/americans-lost-usd333-million-to-bitcoin-atm-fraud-in-2025-fbi-says-there-is-a-clear-and-constant-rise-of-this-scam-and-that-it-is-not-slowing-down"},{"credibility":2,"name":"Massive Crypto ATM Company Bitcoin Depot Is Shutting Down as the Whole Industry Collapses — Gizmodo","type":"news_article","url":"https://gizmodo.com/massive-crypto-atm-company-bitcoin-depot-is-shutting-down-as-the-whole-industry-collapses-2000760192"},{"credibility":2,"name":"Crypto ATMs Extracted $389M From Elderly Victims in 2025 as AUSTRAC, US States Crack Down — TechTimes","type":"news_article","url":"https://www.techtimes.com/articles/323934/20260811/crypto-atms-extracted-389m-elderly-victims-2025-austrac-us-states-crack-down.htm"}]}],"sources_used":[{"credibility":1,"name":"Bitcoin Depot Initiates Voluntary Chapter 11 Process — IR press release","type":"official","url":"https://ir.bitcoindepot.com/news-events/press-releases/detail/127/bitcoin-depot-initiates-voluntary-chapter-11-process-to"},{"credibility":1,"name":"Bitcoin Depot Inc - Restructuring Administration Cases (Kroll)","type":"court_filing","url":"https://restructuring.ra.kroll.com/bitcoindepot/"},{"credibility":1,"name":"Bitcoin Depot Wins Approval Of Plan With Release Limits — Law360","type":"court_filing","url":"https://www.law360.com/articles/2511771/bitcoin-depot-wins-approval-of-plan-with-release-limits"},{"credibility":1,"name":"AG Campbell Sues Bitcoin Kiosk Operator — Massachusetts AG","type":"regulatory","url":"https://www.mass.gov/news/ag-campbell-sues-bitcoin-kiosk-operator-for-facilitating-crypto-scams-against-massachusetts-consumers"},{"credibility":1,"name":"Washington State DFI Takes Action Against Bitcoin Depot Operating, LLC","type":"regulatory","url":"https://dfi.wa.gov/news/press/washington-state-dfi-takes-action-against-bitcoin-depot-operating-llc"},{"credibility":1,"name":"Bitcoin Depot files for bankruptcy, Arkansas consumers may be eligible for compensation — Arkansas Securities Department","type":"regulatory","url":"https://securities.arkansas.gov/bitcoin-depot-files-for-bankruptcy-arkansas-consumers-may-be-eligible-for-compensation/"},{"credibility":1,"name":"Alaskan Consumers Who Were Scammed — Alaska DOL press release","type":"regulatory","url":"https://law.alaska.gov/press/releases/2026/071426-Bitcoin.html"},{"credibility":1,"name":"Notice to Customers of Bitcoin Depot — NC Office of the Commissioner of Banks","type":"regulatory","url":"https://nccob.nc.gov/financial-institutions/money-transmitters/bitcoin-depot-consumer-notice/download?attachment="},{"credibility":2,"name":"Crypto ATM operator Bitcoin Depot files for bankruptcy — ICIJ","type":"news_article","url":"https://www.icij.org/investigations/coin-laundry/crypto-atm-operator-bitcoin-depot-files-for-bankruptcy/"},{"credibility":2,"name":"Massachusetts sues Bitcoin Depot — ICIJ","type":"news_article","url":"https://www.icij.org/investigations/coin-laundry/massachusetts-sues-bitcoin-depot-alleging-the-crypto-atm-operator-knowingly-facilitated-crypto-scams/"},{"credibility":2,"name":"Bitcoin Depot, North America's largest bitcoin ATM operator, files for bankruptcy — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/05/18/bitcoin-depot-once-north-america-s-largest-bitcoin-atm-operator-files-for-bankruptcy"},{"credibility":2,"name":"Bitcoin Depot Hits Ch. 11, Blaming Crypto Crackdown — Law360","type":"news_article","url":"https://www.law360.com/articles/2478846/bitcoin-depot-hits-ch-11-blaming-crypto-crackdown"},{"credibility":2,"name":"Bitcoin Depot files for bankruptcy as crypto ATMs go offline — Banking Dive","type":"news_article","url":"https://www.bankingdive.com/news/bitcoin-depot-bankruptcy-chapter-11-atm-wind-down/820755/"},{"credibility":2,"name":"Massive Crypto ATM Company Bitcoin Depot Is Shutting Down — Gizmodo","type":"news_article","url":"https://gizmodo.com/massive-crypto-atm-company-bitcoin-depot-is-shutting-down-as-the-whole-industry-collapses-2000760192"},{"credibility":2,"name":"$3.6 Million Stolen in Bitcoin Depot Hack — SecurityWeek","type":"news_article","url":"https://www.securityweek.com/3-6-million-stolen-in-bitcoin-depot-hack/"},{"credibility":2,"name":"Bitcoin Depot Reports $3.7 Million Stolen In Wallet Security Breach — Bitcoin Magazine","type":"news_article","url":"https://bitcoinmagazine.com/news/bitcoin-depot-reports-3-7-million"},{"credibility":2,"name":"Iowa Attorney General sues 2 crypto companies — Yahoo News","type":"news_article","url":"https://www.yahoo.com/news/iowa-attorney-general-sues-2-003802576.html"},{"credibility":1,"name":"Scammers notched $333 million from bitcoin ATM scams in 2025, FBI says — ABC News","type":"news_article","url":"https://abcnews.com/US/scammers-notched-333-million-bitcoin-atm-scams-2025/story?id=128526877"},{"credibility":2,"name":"Tennessee bans crypto ATMs statewide, joining Indiana in fraud crackdown — The Block","type":"news_article","url":"https://www.theblock.co/post/398800/tennessee-bans-crypto-atms-statewide-joining-indiana-fraud-crackdown"},{"credibility":2,"name":"Bitcoin Depot Struggles With Regulatory Pressure and Weak 2026 Outlook — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/connecticut-bitcoin-depot-license-halt-stock-slide"},{"credibility":2,"name":"North America's largest Bitcoin ATM operator shuts down — WBAY","type":"news_article","url":"https://www.wbay.com/2026/05/19/north-americas-largest-bitcoin-atm-operator-shuts-down-network-files-bankruptcy/"},{"credibility":2,"name":"Bitcoin Depot Shuts Down 9,000 Crypto ATM Network Following Bankruptcy Filing — Finance Magnates","type":"news_article","url":"https://www.financemagnates.com/cryptocurrency/bitcoin-depot-shuts-down-9000-crypto-atm-network-following-bankruptcy-filing/"},{"credibility":2,"name":"Bitcoin Depot's License Revoked in Connecticut — KuCoin","type":"news_article","url":"https://www.kucoin.com/news/flash/bitcoin-depot-s-license-revoked-in-connecticut-atm-industry-faces-stricter-regulation"},{"credibility":2,"name":"Crypto ATM Operator Bitcoin Depot Files for Chapter 11 Bankruptcy — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/markets/crypto/articles/crypto-atm-operator-bitcoin-depot-093609055.html"},{"credibility":2,"name":"Bitcoin Depot Founder and CEO Brandon Mintz Honored in Forbes 30 Under 30 — Bitcoin Depot IR","type":"official","url":"https://ir.bitcoindepot.com/news-events/press-releases/detail/58/bitcoin-depot-founder-and-ceo-brandon-mintz-honored-in"}],"summary":"Bitcoin Depot Inc. (Nasdaq: BTM) was the largest crypto ATM operator in North America, operating approximately 9,700 kiosks before filing for Chapter 11 bankruptcy on May 18, 2026 and immediately shutting down its entire network. The company faced lawsuits from multiple state attorneys general alleging it knowingly facilitated crypto scams that caused hundreds of millions of dollars in consumer losses, and regulators in Connecticut, Washington, and other states moved to revoke its operating licenses before the collapse. A liquidation plan was confirmed by a Texas bankruptcy court on August 10, 2026, with an effective date of August 24, 2026.","timeline":[{"date":"2016-06-01","event":"Bitcoin Depot founded in Atlanta, Georgia by Brandon Mintz.","source":"Bitcoin Depot IR press release","source_url":"https://ir.bitcoindepot.com/news-events/press-releases/detail/58/bitcoin-depot-founder-and-ceo-brandon-mintz-honored-in"},{"date":"2023-06-30","event":"Bitcoin Depot completes SPAC merger with GSR II Meteora Acquisition Corp., begins trading on Nasdaq as BTM on July 3, 2023.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2023/07/03/crypto-atm-operator-bitcoin-depot-debuts-on-nasdaq-following-spac-merger"},{"date":"2026-01-01","event":"Scott Buchanan appointed CEO; founder Brandon Mintz transitions to Executive Chairman.","source":"Barchart / Bitcoin Depot IR","source_url":"https://www.barchart.com/story/news/36251754/bitcoin-depot-appoints-scott-buchanan-as-chief-executive-officer-founder-brandon-mintz-to-continue-to-serve-as-executive-chairman"},{"date":"2026-02-03","event":"Massachusetts Attorney General Andrea Campbell files lawsuit alleging Bitcoin Depot knowingly facilitated crypto scams causing over $10 million in harm to Massachusetts consumers.","source":"Massachusetts AG official press release","source_url":"https://www.mass.gov/news/ag-campbell-sues-bitcoin-kiosk-operator-for-facilitating-crypto-scams-against-massachusetts-consumers"},{"date":"2026-03-09","event":"Connecticut Department of Banking summarily suspends Bitcoin Depot's money transmission license pending revocation proceedings.","source":"CoinTelegraph","source_url":"https://cointelegraph.com/news/connecticut-bitcoin-depot-license-halt-stock-slide"},{"date":"2026-03-23","event":"Bitcoin Depot discovers a breach of its digital asset settlement accounts; approximately 50.9 BTC ($3.7 million) stolen via compromised credentials.","source":"SecurityWeek","source_url":"https://www.securityweek.com/3-6-million-stolen-in-bitcoin-depot-hack/"},{"date":"2026-03-24","event":"Alex Holmes (former MoneyGram CEO) named Chairman and CEO of Bitcoin Depot.","source":"Bitcoin Depot IR press release","source_url":"https://ir.bitcoindepot.com/news-events/press-releases/detail/125/bitcoin-depot-announces-executive-chair-ceo-transition"},{"date":"2026-04-08","event":"Bitcoin Depot publicly discloses the March 23 security breach and $3.7 million theft via SEC Form 8-K.","source":"Crowdfund Insider","source_url":"https://www.crowdfundinsider.com/2026/04/272274-security-breach-bitcoin-depot-discloses-3-7m-crypto-theft-from-internal-wallets/"},{"date":"2026-05-12","event":"Bitcoin Depot notifies the SEC it cannot file its Q1 2026 financial report on time due to a material weakness in cash handling controls; issues a going-concern warning.","source":"Gizmodo / ICIJ","source_url":"https://gizmodo.com/massive-crypto-atm-company-bitcoin-depot-is-shutting-down-as-the-whole-industry-collapses-2000760192"},{"date":"2026-05-18","event":"Bitcoin Depot Inc. and 16 affiliates file voluntary Chapter 11 petitions in the US Bankruptcy Court for the Southern District of Texas (Case No. 26-90528). All approximately 9,700 kiosks deactivated overnight.","source":"Kroll Restructuring / CoinDesk / Law360","source_url":"https://restructuring.ra.kroll.com/bitcoindepot/"},{"date":"2026-06-11","event":"Washington State DFI takes formal action seeking license revocation and a $1.5 million fine, alleging AML failures, excessive fees, and inadequate fraud monitoring.","source":"Washington State DFI official press release","source_url":"https://dfi.wa.gov/news/press/washington-state-dfi-takes-action-against-bitcoin-depot-operating-llc"},{"date":"2026-07-01","event":"Tennessee's statewide ban on crypto ATMs takes effect, the second such state ban after Indiana (March 2026).","source":"The Block","source_url":"https://www.theblock.co/post/398800/tennessee-bans-crypto-atms-statewide-joining-indiana-fraud-crackdown"},{"date":"2026-08-10","event":"Texas bankruptcy court confirms Bitcoin Depot's Chapter 11 liquidation plan, with third-party releases narrowed by the judge.","source":"Law360","source_url":"https://www.law360.com/articles/2511771/bitcoin-depot-wins-approval-of-plan-with-release-limits"},{"date":"2026-08-24","event":"Bitcoin Depot's confirmed liquidation plan becomes effective; company formally enters wind-down.","source":"Law360 / Kroll","source_url":"https://www.law360.com/articles/2511771/bitcoin-depot-wins-approval-of-plan-with-release-limits"}]},"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision 01f54ab2-e33d-4685-9bb8-dc84085706fccopy
2. #2reviewby reviewerreviewer

   2026-09-02 00:40:21Z
   Score: 8 → 8 (no score change)
   The page's core narrative — a large crypto-ATM operator facing coordinated state enforcement over fraud facilitation, followed by leadership turnover and Chapter 11 collapse — is well supported by primary regulatory sources (AG complaints, DFI/DOB orders) and independent trade press, with most granular statistics (transaction counts, dollar figures, dates) verified as accurate. However, three findings warrant correction: the summary overstates the two named lawsuits as alleging 'hundreds of millions' in fraud when the actual complaints total roughly $30M combined; the fee-range claim (15-30%) understates the 15-50% range actually alleged in the cited Massachusetts complaint; and the timeline's claim that Bitcoin Depot 'enters a period without a permanent CEO' after Buchanan's March 2026 resignation is factually wrong, since Alex Holmes was immediately appointed CEO and Chairman. A data-breach timeline entry also contains an apparent one-year date error (2023 vs. the confirmed 2024).
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   chain

   ●mainnet-betaslot 443,561,966

   sig

   3qfcQMBcsJBa…tCYyzApUcopyexplorer ↗

   hash

   5oYRDmC3DbLx…QBP9xsaScopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (1418 B) ▸

   {"actor":"reviewer","artifact_identity":"91e8872bb00e119e17b46fddee84154a","decided_at":"2026-09-02T00:40:21.049Z","decision":"review","disputed_pct":0.2,"investigation_id":"87fee4fc-b081-4a85-ad3e-38fe6be61b29","new_score":8,"page_slug":"bitcoin-depot","prev_score":8,"reason":"The page's core narrative — a large crypto-ATM operator facing coordinated state enforcement over fraud facilitation, followed by leadership turnover and Chapter 11 collapse — is well supported by primary regulatory sources (AG complaints, DFI/DOB orders) and independent trade press, with most granular statistics (transaction counts, dollar figures, dates) verified as accurate. However, three findings warrant correction: the summary overstates the two named lawsuits as alleging 'hundreds of millions' in fraud when the actual complaints total roughly $30M combined; the fee-range claim (15-30%) understates the 15-50% range actually alleged in the cited Massachusetts complaint; and the timeline's claim that Bitcoin Depot 'enters a period without a permanent CEO' after Buchanan's March 2026 resignation is factually wrong, since Alex Holmes was immediately appointed CEO and Chairman. A data-breach timeline entry also contains an apparent one-year date error (2023 vs. the confirmed 2024).","score_delta":0,"sequence_num":2,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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   python -m src.verify_decision b2c03bbb-222c-4398-be0c-c06cdf67098fcopy
3. #3review reviseby judgejudge

   2026-09-02 00:40:21Z
   Score: 8 → 0 (-12)
   The page's core narrative -- a leading crypto-ATM operator facing coordinated state enforcement over fraud facilitation, followed by leadership turnover and bankruptcy -- is well supported by primary regulatory sources (AG complaints, DFI/DOB orders) and independent reporting, with the large majority of granular figures (transaction counts, dollar amounts, dates) confirmed. Correction is needed in three areas: the summary's claim that the Massachusetts and Iowa lawsuits allege 'hundreds of millions' in fraud overstates those two suits, which together allege roughly $30 million (the larger figure appears to come from unrelated nationwide FBI data); the stated 15-30% fee range understates the 15-50% range actually alleged in the cited Massachusetts complaint; and the timeline's assertion that the company 'enters a period without a permanent CEO' after Scott Buchanan's March 2026 resignation is incorrect, since Alex Holmes was named CEO and Chairman effective the same date -- a fact the review separately flags as a high-priority coverage gap. A data-breach timeline entry is also dated a year off from the confirmed 2024 date. None of these issues undermine the substantiated pattern of regulatory findings, but they require correction.
   anchoranchored

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   ●mainnet-betaslot 443,561,969

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   biiZw8BnNQ1N…maszrddPcopyexplorer ↗

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   BivpCsdNpxQA…ts4L6EPWcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (1722 B) ▸

   {"actor":"judge","artifact_identity":"91e8872bb00e119e17b46fddee84154a","band_override":null,"decided_at":"2026-09-02T00:40:21.049Z","decision":"review_revise","delist_requested":false,"disputed_pct":0.2,"investigation_id":"87fee4fc-b081-4a85-ad3e-38fe6be61b29","new_score":0,"page_slug":"bitcoin-depot","prev_score":8,"reason":"The page's core narrative -- a leading crypto-ATM operator facing coordinated state enforcement over fraud facilitation, followed by leadership turnover and bankruptcy -- is well supported by primary regulatory sources (AG complaints, DFI/DOB orders) and independent reporting, with the large majority of granular figures (transaction counts, dollar amounts, dates) confirmed. Correction is needed in three areas: the summary's claim that the Massachusetts and Iowa lawsuits allege 'hundreds of millions' in fraud overstates those two suits, which together allege roughly $30 million (the larger figure appears to come from unrelated nationwide FBI data); the stated 15-30% fee range understates the 15-50% range actually alleged in the cited Massachusetts complaint; and the timeline's assertion that the company 'enters a period without a permanent CEO' after Scott Buchanan's March 2026 resignation is incorrect, since Alex Holmes was named CEO and Chairman effective the same date -- a fact the review separately flags as a high-priority coverage gap. A data-breach timeline entry is also dated a year off from the confirmed 2024 date. None of these issues undermine the substantiated pattern of regulatory findings, but they require correction.","score_delta":-12,"sequence_num":3,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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   python -m src.verify_decision 60026fd2-d5a3-4c73-adab-90c7e55410fccopy