Athena Bitcoin Faces $4.5M Settlement Final Review

Crypto ATM operator Athena Bitcoin is waiting for final federal court approval on a proposed $4.5 million class action settlement. Judge Mark E. Walker will review the agreement on August 10. The lawsuit claims that Athena sent illegal promotional text messages to users who had already opted out by texting stop.

While the total fund sits at $4.5 million, class lawyers are asking for about $33 percent of the total for fees and expenses. After lawyers take their cut and administration costs are paid, claimants will likely split less than $3 million. Athena denies any wrongdoing, and the settlement is not an admission of guilt.

The class covers residential phone subscribers across the United States between August 2020 and August 2024. A separate group covers Florida residents under state telemarketing laws. Exact payouts per person remain unknown because they depend on how many valid claims are filed.

This case highlights the growing legal pressures facing physical crypto kiosk operators as regulators and consumers crack down on marketing practices. Traders should watch for the final court decision on August 10, as it will set the rules for how the payout fund gets distributed.