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Bitcoin Depot disclosed a cybersecurity incident that resulted in the theft of 50.903 BTC, valued at about $3.665 million. The company said an unauthorized actor gained access to parts of its information technology systems, took control of credentials tied to its digital asset settlement accounts, and transferred bitcoin from company-controlled wallets without authorization.
Bitcoin Depot said it discovered the intrusion on March 23 and activated incident-response protocols. The company reported that it brought in external cybersecurity specialists and notified law enforcement.
According to the disclosure, the attacker’s activity was contained to Bitcoin Depot’s corporate environment. The company stated that the incident did not affect customer platforms, divisions, systems, data, or environments.
The company’s description suggests the compromise focused on treasury infrastructure rather than customer-facing systems. Even so, the disclosure indicates the incident is subject to ongoing investigation and has implications beyond the immediate loss.
Bitcoin Depot said it has not identified evidence that customer personally identifiable information was accessed or exfiltrated. However, it also noted that the investigation remains ongoing and the full scope of the breach is not yet completely known.
On April 6, Bitcoin Depot determined the incident was material due to potential reputational harm, legal exposure, regulatory consequences, and response costs. The company said it does not expect the incident to have had a material impact on operations and is not reasonably likely to have a material effect on its financial condition or results of operations, while emphasizing that the final outcome could differ from its current assessment.
Bitcoin Depot reported that it has booked a preliminary loss estimate equal to the fair value of the transferred bitcoin on the date of the incident. The company also noted that insurance may cover some portion of the damage.
The disclosure highlights that wallet security failures remain a critical vulnerability for listed crypto businesses operating globally, particularly where settlement and custody-related credentials are involved.

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