The Arkansas Securities Department is alerting consumers that Bitcoin Depot Operating LLC, which operated cryptocurrency kiosks nationwide, has filed for bankruptcy and ceased operations.
This leaves Arkansas consumers who previously used Bitcoin Depot services possibly eligible to seek compensation for outstanding funds.
The Bitcoin Depot filed in the U. S. Bankruptcy Court for the Southern District of Texas.
Bitcoin Depot previously operated in 33 states, including Arkansas.
A Bitcoin Depot-operated physical kiosk allowed people to buy cryptocurrency, typically using cash or a debit card. Unlike a traditional ATM, the kiosks did not connect to a bank account. Instead, it transferred cryptocurrency to a digital wallet or an address provided by the user.
In the past year, Bitcoin Depot processed at least 2,341 individual transactions in Arkansas across at least 92 machines. Any Arkansan who believes they may have been impacted by a scam involving these machines is encouraged to file a claim.
“Last year, the Arkansas General Assembly passed Act 557 of 2025, which placed necessary restrictions on cryptocurrency kiosks in Arkansas,” said Securities Commissioner Susannah T. Marshall. “These protections, overseen by the Securities Department, have successfully led to better protections of Arkansans from bad actors attempting to use this product to scam Arkansans. This work is ongoing and we encourage Arkansans to learn more about the indications of fraud at our website www.securities.arkansas.gov. In the meantime, the Securities Department will continue its work on protecting consumers and we encourage Arkansans to call the Department with any questions they may have.”
Arkansas consumers who have a claim against Bitcoin Depot may file a claim in the bankruptcy case, call the restructuring hotline at (844) 339-4117 (Toll-Free US/Canada) / + 1 (332) 232-7827 (International) or email [email protected].
Source: Original Article
