Bitcoin Depot Requires ID Verification for Transactions amid Rising Crypto Fraud Concerns

Bitcoin Depot has announced that it will begin verifying identities and requiring personal ID every time a customer uses its ATM.

Bitcoin Depot, the largest Bitcoin ATM operator in the United States, has implemented a strict new policy requiring government-issued ID verification for every transaction, regardless of the value, to reduce fraud and comply with evolving rules.

Bitcoin Depot runs 8,800 ATMs throughout North America. According to the corporation, it is attempting to control account sharing, identity theft, and account takeover efforts by requiring personal identification for all transactions. Bitcoin Depot started requesting identification from users when they first used its services since October.

Bitcoin Depot CEO Scott Buchanan stated that Continuous verification allows detecting suspicious activity based on customers, locations, or transaction amount before a transaction is approved. Bitcoin Depot implemented ID requirements in October, but only for all new users to its service. Buchanan said that by requiring identity verification at every transaction, they are taking an additional step to strengthen security, protect customers, and maintain the integrity of our services.

According to the FBI, cryptocurrency ATMs that involves fraud activities has cost Americans $333 million in 2025. Additionally, 14 states implemented legislation targeting cryptocurrency ATMs last year, according to AARP research. Furthermore, States like Texas and California imposed severe transaction limitations.

Scammers are increasingly targeting elderly people with Bitcoin ATMs, due to the irreversible nature of transactions on the asset's network. Following a $1.9 million settlement agreement with the state's bureau of consumer credit protection, the firm agreed last month to return money to scam victims in Maine.