Bitcoin Depot Loses ₱214.31 million ($3.6 million) in Hot Wallet Breach
The largest U.S. Bitcoin ATM operator Bitcoin Depot disclosed a security breach this week in an SEC filing. Hackers stole 50.9 BTC from its hot wallet on March 23, with the stolen cryptocurrency valued at ₱218.18 million ($3.665 million) at the time of the theft.
Key Takeaway
Bitcoin Depot's second breach in three years shows crypto ATM operators remain prime targets for hackers.
Bitcoin Depot disclosed a security breach that drained 50.9 BTC from its hot wallet systems on March 23. The company filed the disclosure with the SEC this week, saying customer-facing platforms and user data remained unaffected by the intrusion.
Bitcoin Depot classified the incident as material to its operations, citing potential reputational damage alongside legal, regulatory, and incident response costs. The company operates over 8,500 Bitcoin ATMs worldwide, making it the largest U.S. Bitcoin ATM operator.
Bitcoin Depot engaged external cybersecurity experts and notified law enforcement authorities after discovering the breach. The company has not disclosed which agencies are investigating or whether any suspects have been identified.
Shares jumped 15% during trading on the day of the disclosure, closing at $2.74. However, the stock has fallen 44% over the last 30 days, a period that began around March 10, 2026.
This article was written based on reporting from Decrypt.
