ZachXBT Questions High Premiums at Bitcoin Depot ATMs

ZachXBT posted that users should avoid using Bitcoin Depot’s Bitcoin ATMs and questioned the company’s recent decision to allow an elderly U.S. fraud victim to convert $25,000 in fiat currency into BTC via its ATM. ZachXBT stated that the victim was quoted a price of $108,000 per BTC, while the market price at the time was approximately $75,000—resulting in only 0.232 BTC being purchased for the $25,000, with an actual value of roughly $17,500. He also noted that Bitcoin Depot had recently suffered a $3.26 million loss—approximately 54 BTC—due to exploitation, which went undetected for several days.