Missouri Attorney General sues CoinFlip, accusing its crypto ATMs of facilitating fraud

Odaily news, Missouri Attorney General Catherine Hanaway has filed a lawsuit against GPD Holdings, operator of CoinFlip, alleging that the cryptocurrency ATM network facilitates fraudulent transactions while charging high fees, violating the state's consumer protection laws.

Over the past two years, approximately 350 cases related to cryptocurrency ATMs have been reported in Missouri, 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)