Sandy Springs-based Bitcoin Depot announced a voluntary bankruptcy on May 18 and announced layoffs for 109 staff at the corporate office.
The company said in a statement that it would begin “an orderly wind-down” of its operations and sell the company assets.
“Over time, the Company has continued to strengthen its protocols and procedures to combat fraud and protect the customers who use its BTMs, including enhanced identity verification, customer fraud warnings, and its more recent adoption of lower transaction limits for its customers,” Alex Holmes, CEO of Bitcoin Depot, said in a statement…