Key Highlights
- Maine regulators reached a $1.9 million settlement with Bitcoin Depot to refund residents scammed at cryptocurrency kiosks.
- Eligible victims must file claims through the Bureau of Consumer Credit Protection by April 1, 2026.
- The agreement follows the rollout of stricter state laws regulating crypto ATM fees and protecting vulnerable consumers.
Maine residents who fell victim to cryptocurrency fraud may soon receive financial help. On Monday, state officials in Augusta announced a $1.9 million settlement with Bitcoin Depot, a major cryptocurrency ATM operator, to compensate individuals who were scammed through the company’s kiosks.
As per a report, the agreement follows an investigation into illegal activities where scammers tricked victims into depositing cash into kiosks and sending the money to digital wallets controlled by criminals. The settlement, led by the Maine Bureau of Consumer Credit Protection, addresses fraud cases that happened between 2022 and 2025.
Kiosk scams and regulatory response
During this time, consumers were targeted by scammers who used aggressive tactics to get them to exchange their cash for cryptocurrency at Bitcoin Depot kiosks. In addition to monetary compensation, the agreement requires Bitcoin Depot to follow Maine’s consumer protection laws and keep its money transmitter license active in the state.
Although the company does not currently have active locations in Maine, investigators noted their presence in the state during the scam period. This action comes after years of growing concerns about the safety of cryptocurrency kiosks.
In 2024, Maine lawmakers improved oversight of money transmission businesses, followed by more rules in 2025 specifically for virtual currency kiosks. These rules aim to limit exchange rates and fees, restrict daily transaction amounts, and create clearer options for consumers to seek help when fraud occurs.
One case highlighted by investigators involved a Maine senior in 2024 who fell victim to a tech support scam and was pressured into using a kiosk in Old Orchard Beach to send money.
Rising trend of crypto fraud
FBI data shows that scammers stole over $333 million from Americans through cryptocurrency ATM scams between January and November 2025. This is a major rise from the $250 million in losses reported in 2024.
State officials, including Governor Janet Mills, said the settlement aims to reimburse victims and discourage future fraud. “This puts money back into the pockets of Maine people who were defrauded,” Mills said. “I urge all Maine people to talk with their loved ones about the threats of scammers and precautions to take to avoid these cruel and often sophisticated schemes,” she added.
Eligibility requirements and process
To qualify for a refund, claimants must show they were Maine residents between 2022 and 2025 and that they deposited money into an unhosted wallet controlled by a scammer at a Bitcoin Depot kiosk. Claims must be submitted via the Bureau of Consumer Credit Protection’s website by April 1, 2026. Refunds are set to start in May 2026, with the amount based on the total number of valid claims.
Authorities continue to advise the public to be cautious of any requests for immediate payment through cryptocurrency or gift cards, pointing out that no legitimate government agency or business will ask for payment in digital currency.
Linda Conti, superintendent of the Bureau of Consumer Credit Protection, emphasized that these new laws were crucial to the settlement, stating, “Maine’s new consumer protection laws have allowed us to come to this consent agreement and protect vulnerable consumers from falling victim to third-party scams.”
Consumers are encouraged to report any suspicious behavior to local law enforcement or the FBI’s Internet Crime Complaint Center.
Also Read: Coinbase Users Lose $2 Million to Fake Support Scam
