Missouri Sues Crypto ATM Operator CoinFlip Over Alleged Facilitation of Scams

Missouri has become the latest US state to take action against cryptocurrency ATM operators, with the Attorney General's office filing a lawsuit against CoinFlip. The company operates over 4,200 crypto kiosks in the United States, including 136 in Missouri.

The lawsuit alleges that CoinFlip knowingly facilitated fraudulent transactions and profited from them, including scams targeting seniors and veterans. The state began an investigation into several crypto ATM companies in December, which led to this latest action against CoinFlip.

Missouri is seeking to declare CoinFlip's practices as violating the Missouri Merchandising Practices Act and impose civil penalties of up to $1.8 million. Additionally, the state seeks restitution for consumers who were affected by CoinFlip's actions.