Missouri Sues CoinFlip Over Alleged Crypto ATM Scams

The Missouri Attorney General's office has filed a lawsuit against CoinFlip, a cryptocurrency ATM operator, alleging that it knowingly facilitated fraudulent transactions and profited from them through its kiosks across the state.

The complaint, which was filed on May 21, centers around scam activity that used crypto ATMs to move victims' money quickly and with limited recovery options. The office said these transactions can carry poorly disclosed fees and are often hard to trace once completed.

According to the AG's office, the Missouri State Highway Patrol's Missouri Information Analysis Center and the St. Louis Fusion Center linked 350 crypto cases over the past two years to cryptocurrency ATMs. The office also cited FTC data showing crypto ATM fraud losses rose nearly tenfold from 2020 to 2023.

CoinFlip operates more than 140 kiosks in Missouri, with locations listed on its locator page including machines in St. Louis, Columbia, Kansas City, Springfield, and other cities.