Missouri Sues CoinFlip Over Crypto ATM Scams

The Attorney General of United States — Missouri>>>, Catherine Hanaway>>>, has filed a lawsuit against crypto ATM operator CoinFlip>>> (doing business as Nubank>>> LLC) in Jasper County. The lawsuit accuses CoinFlip>>> of violating the United States — Missouri Merchandising Practices Act by facilitating scam-related transactions and charging excessive, poorly disclosed fees of up to 21.90%. The state alleges that CoinFlip>>>'s more than 140 kiosks in United States — Missouri>>> have become a channel for fraud, particularly targeting vulnerable residents including seniors and veterans, with reported losses potentially exceeding $7 million statewide. The lawsuit seeks to block CoinFlip>>> from operating in United States — Missouri>>> without stronger protections, demands restitution for consumers, and civil penalties up to $1.826 million. CoinFlip>>> has responded by calling the lawsuit 'meritless' and a 'misguided attack', asserting its support for consumer protection rules. This action is part of a broader crackdown on crypto ATM companies across the US, with other states like United States — Tennessee>>> and United States — Minnesota>>> also implementing or considering restrictions, and major players like Bitcoin>>> facing financial distress.