TechFlow News, May 21: According to a Cointelegraph report, 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 therefrom.” The alleged victims include elderly residents and veterans in Missouri. This lawsuit stems from a targeted investigation launched by Missouri in December 2025 into multiple crypto ATM companies, which alleged “deceptive fee structures” and fraudulent practices.
The Attorney General’s Office is asking the court to rule that CoinFlip violated the Missouri Merchandising Practices Act, prohibit its continued 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 across the United States. Notably, Bitcoin Depot—a fellow major crypto ATM operator—filed for bankruptcy earlier this month, as regulatory pressure continues to spread across the entire industry.
