Mars Finance News, according to Decrypt, last week, Texas law enforcement used electric tools to recover $32,000 from a Bitcoin Depot Bit ATM. Bitcoin Depot's Chief Legal Officer Chris Ryan stated that the use of force by U.S. law enforcement to retrieve cash from a Bit ATM is an overreach that may violate the law. The company's Chief Operating Officer Scott Buchanan said that since law enforcement cut through the "physical" self-service terminal, the machine must be completely replaced. An FBI report found that in 2024, Americans lost at least $247 million through cryptocurrency self-service terminals, a 31% increase from 2023. Previously, the sheriff of Jasper County, Texas, used cutting tools to forcibly dismantle a Bit ATM in an attempt to recover $25,000 that local residents had been scammed out of.
Bitcoin ATM operator Bitcoin Depot: Law enforcement officers using violence to withdraw money from ATMs is suspected of violating the law
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