Payments

Bitcoin Depot embraces ID verification to combat bitcoin ATM fraud

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October 8, 2025

Bitcoin Depot has introduced ID verification protocols to help prevent the ongoing issue of bitcoin ATM fraud. With this guideline, customers must provide identification before purchasing bitcoin, according to a press release.

"Bitcoin Depot has always placed compliance and consumer protection at the center of our business," Brandon Mintz, CEO of Bitcoin Depot, said in the release. "By strengthening our safeguards, we're making crypto access safer and more trusted for everyone, while setting the standard for the industry."

The company is also putting in place additional protections to detect potential scam activity.

"Requiring ID from every customer and adding senior-specific safeguards enhances our ability to stop scams sooner and protect legitimate users, while keeping access to crypto kiosks simple and accessible," Philip Brown, chief compliance officer, Bitcoin Depot, said in the release.

Bitcoin ATM scams have skyrocketed in recent years, with the FBI reporting losses of $246.7 million in 2024. These scams have drawn the attention of both local governments and attorney generals, with Brian L. Schwalb, attorney general for Washington, D.C. recently filing a lawsuit against Athena Bitcoin for allegedly financially exploiting senior citizens.