Bitcoin Depot Loses $3.7M in Hack After Wallet Credentials Compromised

[mendez]

Bitcoin Depot revealed that it lost 50.9 BTC (around $3.7 million) after a hacker gained access to internal systems tied to its corporate wallets. The breach occurred in March and was linked to compromised credentials, though the company confirmed that customer funds and personal data were not affected.

Despite the incident, operations remain stable, and the firm expects insurance to offset part of the losses. The event highlights a growing trend in crypto security: even large operators remain vulnerable to internal access exploits, not just external attacks on users or platforms.

[AIcash]

good that customer funds weren’t affected, but it still raises questions about internal security controls

[nihalsari]

@mendez all that security and someone still logs in with the wrong password somewhere