Missouri, USA, sues cryptocurrency ATM operator CoinFlip for facilitating fraud

According to Cointelegraph, Missouri Attorney General Catherine Hanaway has filed a lawsuit against cryptocurrency ATM operator CoinFlip, accusing it of "deliberately facilitating fraudulent transactions and profiting from them."

The lawsuit claims that these fraudulent activities target "seniors and veterans" in the state, requesting the court to declare that CoinFlip violated the Missouri Merchandising Practices Act, prohibiting it from operating in Missouri, and imposing a $1,000 fine for each violation over the past five years, up to a maximum of $1.826 million, while also seeking restitution for consumers. CoinFlip operates 136 crypto machines in Missouri and 4,229 nationwide. Previously, Bitcoin Depot filed for Chapter 11 bankruptcy due to facing lawsuits and regulatory pressure.