The Arkansas Securities Department is alerting consumers that Bitcoin Depot Operating LLC, a company that operated cryptocurrency kiosks across the country, has filed for bankruptcy and ceased operations, leaving some Arkansas customers eligible to seek refunds or compensation.
The company filed for bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas and has since shut down its nationwide cryptocurrency kiosk network. Bitcoin Depot previously operated in 33 states, including Arkansas, where it was licensed by the Arkansas Securities Department as a money transmitter.
State officials are encouraging anyone who used a Bitcoin Depot kiosk and believes they may have lost money or been impacted by fraud to file a claim as soon as possible.
Thousands of Arkansas Transactions Processed
According to the Arkansas Securities Department, Bitcoin Depot processed at least 2,341 individual transactions across Arkansas during the past year using at least 92 cryptocurrency kiosks located throughout the state.
Unlike traditional ATMs, Bitcoin Depot kiosks allowed customers to purchase cryptocurrency using cash or a debit card. Instead of dispensing money, the kiosks transferred cryptocurrency to a customer’s digital wallet or another electronic wallet address.
Officials say these kiosks have increasingly become targets for scammers who convince victims to deposit money into cryptocurrency accounts that cannot be recovered.
Consumers Owed More Than $33,000
The Arkansas Securities Department says 19 Arkansas consumers are currently owed refunds totaling $33,312.
Individual refund amounts range from $382 to $7,500.
Those consumers will be contacted directly, but the department is issuing the statewide alert to ensure anyone else who may have outstanding claims is aware of the bankruptcy proceedings.
Commissioner Highlights Consumer Protections
Arkansas Securities Commissioner Susannah T. Marshall said recent state legislation has strengthened protections against cryptocurrency kiosk scams.
“Last year, the Arkansas General Assembly passed Act 557 of 2025, which placed necessary restrictions on cryptocurrency kiosks in Arkansas,” Marshall said.
“These protections, overseen by the Securities Department, have successfully led to better protections of Arkansans from bad actors attempting to use this product to scam Arkansans. This work is ongoing, and we encourage Arkansans to learn more about the indications of fraud at our website. In the meantime, the Securities Department will continue its work on protecting consumers, and we encourage Arkansans to call the Department with any questions they may have.”
How to File a Claim
Arkansas consumers who believe they have a claim involving Bitcoin Depot may:
File a claim through the bankruptcy proceedings.
Call the restructuring hotline at 844-339-4117 (U.S. and Canada) or 332-232-7827 (International).
Email BitcoinDepotInfo@ra.kroll.com.
Consumers may also contact the Arkansas Securities Department by:
Email: ASDInfo@arkansas.gov
Phone: 501-324-9260
Toll-Free: 800-981-4426
The Arkansas Securities Department urges anyone who believes they were the victim of a cryptocurrency kiosk scam to report the incident promptly and seek assistance.
Established in 1959, the Arkansas Securities Department regulates the state’s securities industry, money services industry, mortgage lenders, state-chartered credit unions, savings and loan institutions, and works to educate and protect Arkansas consumers from financial fraud.
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