Missouri – Missouri’s fight against cryptocurrency-related fraud has moved from warning signs to the courtroom, as Attorney General Catherine Hanaway announced a lawsuit against GPD Holdings LLC, better known as CoinFlip, over claims that its cryptocurrency kiosks enabled scams and generated profits through excessive and confusing fees.
The suit targets CoinFlip’s Bitcoin ATM network in Missouri, where the company operates more than 140 kiosks in places such as convenience stores, liquor stores, vape shops, and gas stations. CoinFlip describes itself as the “world’s largest network of cryptocurrency ATMs by transaction volume” and publicly promotes its kiosks as safe, with fraud-prevention measures in place. But according to Hanaway’s office, scam transactions at Missouri kiosks have continued to happen regularly.
“Bitcoin and crypto ATMs are the new getaway cars for fraud, whisking away innocent people’s money to scammers, never to return,” said Attorney General Hanaway.
“As Attorney General, I’ll use every tool to flush out the cowardly scammers hiding behind screens and hold them accountable. My office will always prioritize protecting Missourians—especially our seniors and veterans.”
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Unlike a regular ATM, where consumers deal in U.S. dollars, cryptocurrency kiosks allow users to buy or transfer digital currency such as Bitcoin. The Attorney General’s Office says those transactions can come with poorly disclosed and disproportionate fees. Once completed, they are generally nonrefundable, hard to trace, and difficult to recover, making them attractive tools for scammers targeting vulnerable people.
The lawsuit follows a statewide investigation launched by the Attorney General’s Office in December 2025 into companies operating cryptocurrency kiosks. That investigation was prompted by broader concerns about deceptive fees and the use of these machines by bad actors.
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The problem is not limited to Missouri. The Federal Trade Commission has reported that fraud losses at crypto ATMs have been “skyrocketing,” rising nearly tenfold from 2020 to 2023. In the first half of 2024 alone, reported losses topped $65 million. The FTC also found that losses among seniors in scams involving cryptocurrency as the payment method have increased more than 20-fold since 2020.
In Missouri, the Missouri State Highway Patrol’s Missouri Information Analysis Center and the St. Louis Fusion Center reported that 350 crypto cases over the past two years involved a cryptocurrency ATM.
Hanaway’s office is asking the Circuit Court of Jasper County to declare that CoinFlip violated the Missouri Merchandising Practices Act, block the company from operating in Missouri, impose civil penalties of $1,000 per violation over the past five years, up to $1,826,000, and award restitution to consumers.
“Our mission is simple: protect Missourians’ hard-earned money and stop scammers in their tracks. It’s not just Bitcoin ATMs; it’s all fraud, and we will go after any business taking advantage of vulnerable Missourians,” continued Attorney General Hanaway.
Officials warned residents to watch for red flags, including unexpected calls or texts about accounts, deliveries, or law enforcement matters; urgent demands for payment; instructions to keep the situation secret; callers who stay on the line during bank transactions; and directions to deposit cash into a cryptocurrency ATM.
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Missourians who believe they were harmed through a cryptocurrency kiosk are encouraged to contact local law enforcement, report fraud to the FBI’s Internet Crime Complaint Center at ic3.gov, and file a complaint with the Attorney General’s Office at ago.mo.gov.
