Maine cryptocurrency kiosk scam reaches settlement, Bitcoin Depot pays $1.9 million

How serious is the scam problem with cryptocurrency kiosks? Just look at the case in Maine. According to reports, Bitcoin Depot has reached a $1.9 million settlement agreement with the state to compensate victims over the past three years.

Scam proliferation, regulatory action

The Maine Bureau of Consumer Credit Protection found that between 2022 and 2025, scammers used Bitcoin Depot’s kiosks to carry out large-scale fraud activities. Victims transferred money to scammers through these machines, suffering heavy losses. This is not an isolated case—according to FBI data, the total losses from cryptocurrency kiosk scams in the US in 2024 have reached $246 million, which is shocking.

In response, Maine last year introduced emergency legislation to limit daily transaction caps and fee ratios for kiosks, attempting to curb the problem at its source.

Bitcoin Depot’s compromise and responsibility

As a business operator, Bitcoin Depot ultimately chose to settle. In addition to paying $1.9 million in damages, the company also obtained a license to legally operate money transfer services in Maine, provided it complies with all provisions of the state’s consumer protection laws.

For victims, eligible claimants must submit their applications by April 1, 2026, to receive compensation.

Regulatory trends

This case reflects a broader trend—both state and federal levels are strengthening regulation of cryptocurrency kiosks. Maine’s approach provides a reference for other regions and also indicates that the industry will face stricter compliance requirements in the future.