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Bitcoin Depot, Bitcoin ATM Operator: Law Enforcement Accused of Illegally Using Force to Retrieve Cash from ATM Machine
Summary: According to Decrypt, last week, Texas police used power tools to retrieve $32,000 from Bitcoin Depot's Bitcoin ATM machine. Bitcoin Depot's Chief Legal Officer Chris Ryan stated that the use of force by US law enforcement to retrieve cash from the Bitcoin ATM machine was an overreach and may have violated the law. The Chief ...
According to Decrypt, last week, Texas police used power tools to retrieve $32,000 from Bitcoin Depot's Bitcoin ATM machine. Bitcoin Depot's Chief Legal Officer Chris Ryan stated that the use of force by US law enforcement to retrieve cash from the Bitcoin ATM machine was an overreach and may have violated the law. The Chief Operating Officer Scott Buchanan mentioned that due to law enforcement cutting into the 'physical entity' of the self-service terminal, the machine must be completely replaced. An FBI report found that in 2024, Americans lost at least $247 million through cryptocurrency self-service terminals, a 31% increase from 2023. Earlier reports indicated that a Texas sheriff in Jasper County used cutting tools to forcibly dismantle a Bitcoin ATM machine in an attempt to recover $25,000 defrauded from local residents.
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Link: Bitcoin Depot, Bitcoin ATM Operator: Law Enforcement Accused of Illegally Using Force to Retrieve Cash from ATM Machine [Copy]
