Missouri Attorney General Catherine Hanaway has sued CoinFlip operator GPD Holdings LLC, alleging the cryptocurrency ATM network facilitated fraudulent transactions while charging excessive fees, according to a complaint filed in Jasper County Circuit Court.
The state said in the filing that roughly 350 crypto ATM-related cases have been reported in Missouri over the past two years, with losses tied to machines operated by CoinFlip and similar kiosks potentially running into the millions.
The lawsuit seeks restitution for consumers, civil penalties of up to $1.826 million, and an injunction that would block the company from operating in the state.
"Bitcoin and crypto ATMs are the new getaway cars for fraud, whisking away innocent people's money to scammers, never to return," Hanaway said in a statement. "As Attorney General, I'll use every tool to flush out the cowardly scammers hiding behind screens and hold them accountable."
Founded in 2015, CoinFlip advertises itself as the "world's largest network of cryptocurrency ATMs by transaction volume" and operates more than 140 kiosks across Missouri. The machines are located at convenience stores, liquor stores, vape shops, and gas stations.
