Bitcoin Depot class action overview:
- Who: Plaintiffs Karen and Robert Lacey filed a class action lawsuit against Bitcoin Depot Inc. and Bitcoin Depot Operating LLC.
- Why: The Laceys allege Bitcoin Depot’s ATMs facilitated an impersonation scam that cost them $76,000 in savings.
- Where: The Bitcoin class action lawsuit was filed in Idaho federal court.
A new class action lawsuit accuses Bitcoin Depot of failing to protect vulnerable consumers from impersonation scams targeting its Bitcoin ATM network.
Plaintiffs Karen and Robert Lacey claim fraudsters posing as Norton customer service representatives and FBI agents convinced them their accounts were linked to child pornography and illegal gambling, then directed them to deposit their savings at Bitcoin Depot ATMs over five consecutive days.
“Despite obvious red flags — including first-time users making large cash deposits while visibly acting under telephone instructions from unknown parties — Bitcoin Depot’s ATM processed each transaction without meaningful intervention, taking its substantial cut before transferring the remainder to the scammer’s wallet,” the Bitcoin class action lawsuit alleges.
In total, the Laceys deposited $76,000 into Bitcoin Depot ATMs — the entirety of their retirement savings — between Aug. 9 and Aug. 13, 2025.
The Bitcoin class action lawsuit further argues the company’s own SEC filings admit its services “may be exploited to facilitate illegal activity such as fraud” and that its risk management “may not be sufficient.”
Federal Trade Commission data cited in the complaint shows Bitcoin ATM fraud losses increased nearly tenfold between 2020 and 2023, with a median victim loss of $10,000.
Retired plaintiff forced back to work after alleged Bitcoin ATM fraud
The Bitcoin class action lawsuit argues that to reinforce the deception, scammers caused wireless networks labeled “FBI” to appear on the Laceys’ phones, which remained visible for months after the deposits.
According to the class action, after the Laceys’ son filed a federal crime complaint, Bitcoin Depot issued two $1,000 refund checks — a total the lawsuit states did not cover even the fees the company had collected.
Karen Lacey was retired when the fraud occurred and was subsequently forced back into the workforce, now working rotating hospital shifts as a result of losing her entire savings.
The Bitcoin Depot class action lawsuit alleges the company charges fees up to 50% of transaction amounts and relies primarily on on-screen warning stickers — a safeguard the complaint calls demonstrably ineffective.
Plaintiffs demand a jury trial and seek injunctive relief, compensatory and punitive damages, restitution of fees, and attorney’s fees.
In another Bitcoin Depot class action lawsuit, a consumer accused the company of failing to adequately safeguard the personally identifiable information of its customers during a 2025 data breach.
What do you think of the allegations made in this Bitcoin Depot class action lawsuit? Let us know in the comments.
Karen and Robert Lacey are represented by Barkley B. Smith of Barkley Smith Law PLLC and Brian D. Flick and Marita I. Ramirez of DannLaw.
The Bitcoin class action lawsuit is Lacey, et al. v. Bitcoin Depot Inc., et al., Case No. 1:26-cv-00288-DKG, in the U.S. District Court for the District of Idaho.
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