Overview
- The Missouri Attorney General filed a complaint in Jasper County this week on behalf of three victims alleging GPD Holdings LLC, doing business as CoinFlip, knowingly facilitated scam payments through its more than 140 crypto kiosks across the state.
- State lawyers say CoinFlip charged transaction fees as high as 21.9 percent that were not prominently disclosed so the company earned revenue even when transactions were fraud-related.
- The complaint cites roughly 350 Missouri cases tied to cryptocurrency ATMs over the past two years and federal data showing crypto‑ATM losses rose nearly tenfold from 2020 to 2023.
- Missouri is asking the court for an immediate injunction to stop CoinFlip’s Missouri operations until fraud‑prevention measures are in place, restitution for victims, and statutory penalties capped at $1,826,000 for the past five years.
- The case adds to mounting legal pressure on the crypto‑ATM industry after recent actions such as Bitcoin Depot’s Chapter 11 filing and will test whether operator warnings and terms are sufficient under Missouri consumer‑protection law while spotlighting harms to seniors and veterans.