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

Missouri Attorney General Catherine Hanaway has filed a lawsuit against CoinFlip operator GPD Holdings, accusing the cryptocurrency ATM network of facilitating fraudulent transactions while charging high fees, in violation of state consumer protection laws. Over the past two years, Missouri has reported approximately 350 cases related to cryptocurrency ATMs, with losses potentially reaching millions of dollars.

The lawsuit seeks compensation for consumers, imposes a civil penalty of up to $1.826 million, and issues an injunction prohibiting the company from operating in the state.