People are being fleeced out of millions of dollars through cryptocurrency scams. Missouri Attorney General Catherine Hanaway has filed a suit against one crypto ATM company that she says is knowingly enabling scams on their kiosks.
Published May 21, 2026 at 3:53 PM CDT
Annelise Hanshaw
/
Missouri Independent
This week, Missouri Attorney General Catherine Hanaway filed a lawsuit against GPD Holdings LLC, better known as “Coinflip,” seeking to ban the cryptocurrency ATM kiosks.
The lawsuit accuses the company of knowingly allowing fraudulent transactions and charging excessive fees.
Cryptocurrency is one of the methods commonly used by con artists to lure people into depositing funds into a digital currency account or kiosk. Cryptocurrency transactions are nearly impossible to trace and irreversible, making it difficult to bring charges against bad actors.
“These scammers are looking for the vulnerable, they're looking for elderly, they're looking for people who might have some little blemish on their record,” Hanaway said.
Although some people use cryptocurrency for investments, Hanaway said the ATM kiosks are primarily used for fraud. She wants Coinflip machines banned from operating in the state.
“We think it's one of the larger frauds in Missouri history,” Hanaway said. “It might be as much as a $7 million fraud.”
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