Hacking News
CoinFlip Crypto ATM Scam Ordered to Pay $4.8M
California’s Department of Financial Protection and Innovation ordered CoinFlip, a company operating 500 crypto ATMs across California, to pay $4.8 million in restitution to residents defrauded through its kiosks. The order stems from the company's failure to properly identify customers, detect suspicious activity, and comply with state and federal regulations. The company also faces a $350,000 fine and must stop unlawful practices.