Bitcoin Depot bankruptcy leaves Arkansans owed refunds, state warns | White River Now

Arkansans who used Bitcoin Depot cryptocurrency kiosks could possibly be owed cash after the corporate shut down operations and filed for bankruptcy, state securities regulators stated this week.

The Arkansas Securities Division is alerting customers that Bitcoin Depot Working LLC, which operated cryptocurrency kiosks nationwide, has filed for bankruptcy and ceased operations. Because of this, Arkansas customers who beforehand used Bitcoin Depot providers could also be eligible to hunt compensation for excellent funds.

The alert follows Bitcoin Depot’s bankruptcy submitting within the U.S. Bankruptcy Courtroom for the Southern District of Texas. For the reason that submitting, the corporate has shut down its cryptocurrency kiosk community.

Bitcoin Depot beforehand operated in 33 states, together with Arkansas, the place it held a cash transmission license with the Securities Division.

The corporate’s kiosks allowed folks to purchase cryptocurrency, usually utilizing money or a debit card. Not like a standard ATM, the machines didn’t hook up with a checking account. As a substitute, they transferred cryptocurrency to a digital pockets or an deal with supplied by the person.

Over the previous yr, Bitcoin Depot processed no less than 2,341 transactions in Arkansas throughout no less than 92 machines. Any Arkansan who believes they might have been affected by a rip-off involving the kiosks is inspired to file a declare.

“Final yr, the Arkansas Normal Meeting handed Act 557 of 2025, which positioned crucial restrictions on cryptocurrency kiosks in Arkansas,” Securities Commissioner Susannah T. Marshall stated. “These protections, overseen by the Securities Division, have efficiently led to higher protections of Arkansans from dangerous actors trying to make use of this product to rip-off Arkansans. This work is ongoing, and we encourage Arkansans to be taught extra in regards to the indications of fraud at our web site, securities.arkansas.gov. Within the meantime, the Securities Division will proceed its work on defending customers, and we encourage Arkansans to name the division with any questions they might have.”

Nineteen customers are owed a complete of $33,312 in refunds, starting from $382 to $7,500, based on the division. These people can be contacted straight, however officers say they’re calling consideration to the state of affairs to ensure some other Arkansan who used the service is conscious of the bankruptcy submitting.

Arkansas customers with a declare in opposition to Bitcoin Depot might file it within the bankruptcy case, name the restructuring hotline at (844) 339-4117 toll-free within the U.S. and Canada, or +1 (332) 232-7827 internationally, or e mail BitcoinDepotInfo@ra.kroll.com.

The Arkansas Securities Division will be reached at ASDInfo@arkansas.gov or by cellphone at 501-324-9260, or toll-free at 800-981-4426.

Have a information tip or occasion to advertise? E-mail White River Now at news@whiterivernow.com. Be sure you like and comply with us on Fb and Twitter. And don’t overlook to obtain the White River Now cell app from the Google Play Retailer or the Apple App Retailer.

Stand up-to-date native and regional information/climate from the First Community Bank Newsroom on Arkansas 103.3 KWOZ each weekday morning and afternoon. White River Now updates are additionally aired on weekday mornings on 93 KZLE, Outlaw 106.5, and Your FM 99.5.  Catch NBC Information across the prime of each hour on 1340 KBTA.