Security

Missouri AG sues CoinFlip for scams

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May 21, 2026

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Catherine Hanaway, attorney general of Missouri, is suing CoinFlip for allegedly enabling scams, which have cost residents more than $7 million. There are currently more than 140 of these crypto ATMs in the state, according to a report by Spectrum Local News.

Hanaway alleges that the crypto ATMs aren't transparent about fees. "They claim it's a $3 fee. It could be up to $1,000," she said. In one incident, an 80-year-old veteran deposited around $200,000 into a machine. That money disappeared. Another woman who had an active warrant deposited $1,000 in cash when called by scammers.

A Coinflip spokesperson said in the report that "Attorney General Hanaway's lawsuit is meritless. It's a misguided attack on the company that has spent years urging the passage of cryptocurrency kiosk consumer protection laws in Missouri and across the country. Missouri's 2025 cryptocurrency kiosk consumer protection legislation exists because CoinFlip demanded it. We drove the effort to establish mandatory licensure, stronger compliance standards, and meaningful consumer protection requirements designed to protect Missourians from criminal scammers. We engaged directly with lawmakers, led the charge, and got it done."