Missouri AG sues CoinFlip, calls crypto ATMs ‘getaway cars for fraud’
The Block·
60-second summary
Missouri Attorney General's office is suing CoinFlip, alleging its cryptocurrency ATMs enabled widespread consumer fraud schemes by serving as 'getaway cars for fraud.' CoinFlip's ATMs allegedly charged excessive fees, totaling millions of dollars, and facilitated scams targeting vulnerable individuals. The lawsuit seeks restitution and penalties, potentially disrupting the crypto ATM industry's business model.
Missouri sued CoinFlip, alleging its cryptocurrency ATMs were used in widespread consumer fraud schemes and charged excessive fees.