ZachXBT Flags Steep Premiums at Bitcoin Depot ATMs

Blockchain investigator ZachXBT urged users to avoid Bitcoin Depot's Bitcoin ATMs, pointing to a recent case in which an elderly U.S. fraud victim was allowed to swap $25,000 in cash for BTC at what he described as an excessive rate. According to ZachXBT, the customer was quoted $108,000 per bitcoin while BTC was trading near $75,000. The transaction reportedly delivered 0.232 BTC, valued at about $17,500 based on the prevailing market price. He also said Bitcoin Depot was recently exploited for a $3.26 million loss—roughly 54 BTC—that allegedly went unnoticed for several days.