Missouri Attorney General Catherine Hanaway filed a lawsuit on May 20, 2026, against GPD Holdings LLC, the company operating the Coinflip Bitcoin ATM network, alleging the firm concealed steep fees and knowingly facilitated fraud through its cryptocurrency kiosks. The complaint claims customers were charged fees as high as 21.9% per transaction without clear disclosure.
Allegations in the Attorney General’s Complaint
The lawsuit asserts that GPD Holdings LLC misled consumers using Coinflip-branded Bitcoin ATMs by obscuring the true cost of purchases and transfers. According to the filing, the operator’s practices enabled scams in which victims were directed to convert cash into cryptocurrency at the machines, while the company allegedly failed to provide adequate transparency around pricing and risk.
Fees and Disclosures at Issue
State prosecutors allege Coinflip’s kiosks imposed combined fees and exchange-rate markups that could reach 21.9% of a transaction, with those charges not clearly communicated to users prior to purchase. The complaint frames the undisclosed cost structure as deceptive and harmful to consumers, particularly those targeted by fraud schemes that rely on rapid, irreversible crypto transfers.
Why It Matters
Bitcoin ATMs offer cash-to-crypto access across retail locations and have grown in popularity with retail users. Regulators have increasingly scrutinized kiosk operators over consumer-protection concerns, including disclosure of fees and vulnerability to imposter and payment-redirection scams. The Missouri action underscores mounting state-level oversight of crypto on-ramps and could influence how ATM networks present pricing and risk information to the public.
Next Steps
The case was filed in Missouri state court. As of publication, further details on requested remedies or a court schedule were not disclosed in the filing summary. GPD Holdings LLC and Coinflip had not issued public statements regarding the allegations.