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Bitcoin ATM operator Bitcoin Depot: It is an overreach for US law enforcement to use violence to retrieve cash from ATMs.
PANews June 28 news, according to Decrypt, last week, the Texas police used power tools to recover $32,000 from Bitcoin Depot's Bitcoin ATM. Chris Ryan, Chief Legal Officer of Bitcoin Depot, stated that using violent means to recover cash from Bitcoin ATMs by U.S. law enforcement is an overreach and may violate the law. Its Chief Operating Officer Scott Buchanan said that since law enforcement cut open the "physical" of the kiosk, the machine must be completely replaced. A report from the FBI found that in 2024, Americans lost at least $247 million through crypto asset ATMs, a rise of 31% compared to 2023.