$BTTC 🚨 California Orders $4.8M Bitcoin ATM Payout
California's Department of Financial Protection and Innovation has ordered Coinflip to pay over $4.8M to scam victims, citing failures in customer checks and suspicious activity controls at its Bitcoin ATM network.
The order covers roughly 500 Coinflip kiosks across the state. On top of victim compensation, Coinflip must also repay more than $350,000 in fees regulators say it charged illegally, and cease unlawful practices going forward.
When your ATM network becomes the scammer's favourite cash-out window, the regulators eventually notice.
Trade on Binance
California's Department of Financial Protection and Innovation has ordered Coinflip to pay over $4.8M to scam victims, citing failures in customer checks and suspicious activity controls at its Bitcoin ATM network.
The order covers roughly 500 Coinflip kiosks across the state. On top of victim compensation, Coinflip must also repay more than $350,000 in fees regulators say it charged illegally, and cease unlawful practices going forward.
When your ATM network becomes the scammer's favourite cash-out window, the regulators eventually notice.
Trade on Binance