Missouri Targets Cryptocurrency ATM Operator Over Alleged Facilitation of Scams

The State of Missouri has taken action against a cryptocurrency ATM operator, alleging that the company knowingly facilitated fraudulent transactions.

CoinFlip, which operates over 4,200 kiosks across the US, including 136 in Missouri, is accused of profiting from scams that targeted vulnerable individuals in the state.

The Attorney General's office has filed a lawsuit against GPD Holdings, doing business as CoinFlip, under the Missouri Merchandising Practices Act. The suit seeks to enjoin CoinFlip from operating in Missouri and recover restitution for affected consumers.