Missouri Attorney General Sues CoinFlip, Alleging Its Crypto ATMs Facilitate Fraud

Odaily Odaily reported that Missouri Attorney General Catherine Hanaway has filed a lawsuit against GPD Holdings, the operator of CoinFlip, accusing the cryptocurrency ATM network of charging exorbitant fees while facilitating fraudulent transactions, in violation of the state's consumer protection laws.

Over the past two years, Missouri has reported approximately 350 cases related to cryptocurrency ATMs, with potential losses reaching millions of dollars. The lawsuit seeks consumer restitution, civil penalties of up to $1.826 million, and an injunction barring the company from operating in the state. (theblock)