Missouri Attorney General Catherine Hanaway has filed a lawsuit against Bitcoin ATM operator CoinFlip, accusing the company of knowingly facilitating fraudulent transactions and profiting from high fees. The lawsuit seeks to halt CoinFlip's operations in Missouri and demands approximately $1.83 million in civil penalties. CoinFlip has dismissed the lawsuit as "baseless," asserting that it has implemented consumer protection measures and that law enforcement should target the actual fraudsters.
This legal action comes amid increased regulatory scrutiny and enforcement against Bitcoin ATM scams across multiple U.S. states, which predominantly target elderly individuals. Recently, Bitcoin Depot, North America's largest Bitcoin ATM operator, filed for Chapter 11 bankruptcy protection.
Missouri Attorney General Sues CoinFlip Over Alleged Fraudulent Transactions
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