Crypto detective warns against using these Bitcoin ATMs

On April 22, blockchain investigator ZachXBT warned consumers against using Bitcoin Depot’s ATMs, alleging predatory pricing, weak fraud controls and a delayed detection of a security breach. He highlighted a case where an elderly victim paid $25,000 for 0.232 BTC (market value ~$17,500) after being targeted by call scammers, and said on-chain tracing shows outflows began three days before Bitcoin Depot’s reported breach date. ZachXBT also found 54.45 BTC across 19 theft addresses, above the company’s disclosed 50.903 BTC. The report underscores rising losses from crypto ATMs ($246.7M in 2024; >$333M in 2025) and a near 2% drop in U.S. BTC ATMs in Q1 2026, raising reputational and regulatory risks for ATM operators and on-ramp liquidity for retail Bitcoin demand.