Mainers who lost money to scammers at bitcoin kiosks could soon get some of it back after state regulators secured a $1.9 million settlement with a major cryptocurrency ATM operator.
State officials say the consent agreement with Bitcoin Depot will be used to compensate consumers who were defrauded between 2022 and 2025 after being instructed by third-party scammers to convert cash into cryptocurrency at kiosks in Maine and deposit it into digital wallets controlled by fraudsters.
Beyond the restitution, the agreement requires Bitcoin Depot to comply with Maine’s consumer protection laws and operate as a licensed money transmitter in the state.
The agreement comes as scams involving bitcoin and other cryptocurrency ATMs are becoming more common across the country.
FBI data shows scammers took more than $333 million from Americans using crypto ATM schemes between January and November 2025.
That’s up from about $250 million in losses in 2024, according to the agency.
Gov. Janet Mills (D-Maine) said the state’s agreement with Bitcoin Depot is meant to both reimburse victims and reduce the chances of similar scams happening again.
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.”
State officials say new laws helped make the settlement possible.
Maine strengthened oversight of cryptocurrency and money transmission businesses in 2024, and lawmakers approved additional rules in 2025 aimed specifically at regulating virtual currency kiosks.
Those rules limit how much money can be sent each day, cap fees and exchange rates, and give consumers clearer options for getting their money back when fraud happens.
Linda Conti, superintendent of the Bureau of Consumer Credit Protection, said those laws were key to the investigation and settlement.
“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,” Conti said.
She pointed to requirements related to so-called unhosted wallets, which are controlled directly by users rather than by banks, exchanges or other financial institutions.
Scammers often exploit unhosted wallets by persuading victims to send cryptocurrency directly to addresses they control, making the transactions difficult to trace or reverse.
Maine residents may qualify for compensation if they were state residents between 2022 and 2025, used a Bitcoin Depot kiosk in Maine to convert cash into cryptocurrency, and deposited the funds into an unhosted wallet provided by a scammer or other third-party fraudster.
Claims must be submitted through the Bureau of Consumer Credit Protection’s website by April 1, 2026.
State officials expect to begin issuing refunds in May 2026, after all claims have been reviewed.
The amount of each refund will depend on the number of valid claims submitted and verified losses.
Be suspicious of urgency.
Scammers often claim immediate action is required to avoid arrest, fines or account shutdowns.
No legitimate business or government agency demands cryptocurrency.
Requests to pay taxes, fees or debts with bitcoin or other digital currency are a major red flag.
Don’t take instructions from strangers.
If someone tells you to use a bitcoin or cryptocurrency ATM, stop and verify the request with a trusted source.
Talk to someone you trust.
Scammers frequently target people who are isolated or embarrassed to ask for help.
Report suspected scams.
Victims and potential victims are encouraged to contact local law enforcement, the FBI’s Internet Crime Complaint Center, or Maine’s Bureau of Consumer Credit Protection.
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