Washington, D.C. Attorney General Brian L. Schwalb has charged ATM operator Athena Bitcoin with failing to safeguard elderly residents from scams and imposing exorbitant fees. The company, operating 4,100 Bitcoin ATMs in five countries, faces allegations of violating the Consumer Protection Procedures Act. Charged with deceptive practices, Athena reportedly imposed fees as high as 26%, significantly more than typical exchange fees of around 3%. In its initial months in the D.C. area, 93% of deposits were linked to fraud. The lawsuit highlights a specific case where a victim was charged a scam price leading to a $2,500 fee for Athena. The firm's receipts lack itemized fees, leaving customers unaware of the true cost. Refunds, if offered, are limited, and customers must sign releases that waive future claims against Athena. This suit underscores ongoing concerns about cryptocurrency ATMs being exploited in scams targeting vulnerable populations, calling for better regulatory oversight.

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