Bitstop

Trust Rating

Grade: F (0/100 points). Pioneer status overshadowed by serious allegations

Bitstop holds a unique place in Bitcoin ATM history — operating since 2013 and acquiring Genesis Coin (the dominant ATM software platform) in 2023. That heritage is significant. However, the Nebraska cease and desist for operating 40+ unlicensed locations and ignoring regulatory directives for over two years raises basic compliance questions. More concerning: court filings in related litigation identify corporate overlap between Bitstop (ATM Ops Inc.) and Heller Capital Group, which investors allege operated a fraudulent scheme involving ATM units. These allegations are not yet adjudicated, but the combination of a cease and desist, Ponzi allegations, and consumer fraud complaints drives the rating to the lowest tier.

Fees

Fee data not yet available.

Key Facts

• Founded: Unknown
• Locations: 2,719 across 42 states
• Transaction types: Buy only
• Phone: 1-855-524-8786
• Email: support@bitstop.co

Enforcement & Regulatory History

Consent order regarding money transmission activities (resolved); Nebraska issued cease and desist order against ATM OPS INC d/b/a Bitstop for: (1) operating 40+ unlicensed money transmission locations in Nebraska since August 2021, (2) failing to respond to Nebraska's July 2023 directive to apply for licensure, (3) multiple consumer fraud complaints including failure to deliver purchased Bitcoin and unauthorized charges. Bitstop has 15 days to request hearing or order becomes final. (pending); Enforcement action dismissed (resolved); Secured party action seeking kiosk records, locations, and collateral related to PowerCoin-linked machines. Part of broader Heller Capital Group enterprise unwind. (pending); Court filings in related matters identify Heller Capital Group affiliates as including both PowerCoin and Bitstop. Heller profile documents list Bitstop as a 'primary holding.' Investor plaintiffs in related cases allege Daryl Heller instituted a fraudulent scheme involving ATM units. Whether the enterprise operated as a Ponzi scheme is a question for the court and not yet adjudicated. (pending); Multiple consumer fraud complaints - failure to deliver purchased Bitcoin and unauthorized charges.