Missouri Sues Cryptocurrency ATM Operator CoinFlip, Alleging It Aided Fraud and Profited from It

According to Cointelegraph, Missouri Attorney General Catherine Hanaway has filed a lawsuit against GPD Holdings—the parent company of cryptocurrency ATM operator CoinFlip—accusing it of “intentionally facilitating fraudulent transactions and profiting from them,” with victims including elderly residents and veterans in the state. The lawsuit stems from a targeted investigation launched by Missouri in December 2025 into multiple crypto ATM companies, which alleged “deceptive fee structures” and fraudulent conduct. The Attorney General’s Office is asking the court to rule that CoinFlip violated the Missouri Merchandising Practices Act, prohibit it from continuing operations in the state, impose a $1,000 fine for each violation over the past five years (capped at $1.826 million), and provide restitution to affected consumers. CoinFlip currently operates 136 crypto ATMs in Missouri and 4,229 nationwide. Notably, Bitcoin Depot—another major crypto ATM operator—filed for bankruptcy earlier this month, and regulatory pressure is intensifying across the entire industry.