Bitcoin Depot Slams "Rogue" Cops Destroying ATMs in Pursuit of Funds

In Brief:

Bitcoin Depot accuses law enforcement of overstepping authority by forcibly seizing funds from ATMs.

Damaged kiosks and stolen Bitcoin raise legal and financial concerns for the company.

Bitcoin Depot has called out U.S. law enforcement for using "brute force" to seize funds from its Bitcoin ATMs, leading to significant property damage and loss of funds. In a recent incident, Texas authorities used power tools to access a Bitcoin Depot kiosk, seizing $32,000 but damaging the machine beyond repair. The company has stated that these funds are rightfully theirs and that such actions, often involving physical destruction, violate their rights and result in costly repairs.

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Bitcoin Depot’s legal team has previously fought back against similar actions, emphasizing that once Bitcoin is transferred to the designated wallet, their involvement ends. They stress the importance of understanding their business model, noting that the real victims are those scammed by fraudsters using the machines.

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As crypto-related fraud continues to rise, Bitcoin Depot is working with law enforcement to track stolen assets but remains concerned about the overreach of authorities and the destruction of its property.

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