The Washington, DC Attorney General's office has filed a lawsuit against Athena Bitcoin, a crypto ATM operator, alleging that the company charged undisclosed fees on deposits linked to scams and failed to implement adequate anti-fraud measures. Attorney General Brian Schwalb reported that 93% of deposits in Athena's first five months stemmed from scams, with a no-refund policy hindering victims' recovery of lost funds. The lawsuit claims Athena profited significantly from undisclosed fees, charging up to 26% per transaction under misleading terms. Many victims, primarily elderly, suffered significant losses, with some losing as much as $98,000. Schwalb criticized Athena for its lack of oversight, allowing a continuous flow of fraudulent transactions through its kiosks. Meanwhile, he urged crypto ATM users to be cautious, especially regarding unsolicited contact from strangers. The case emerges amidst a broader crackdown on crypto ATMs, with lawmakers taking actions to impose transaction limits and safeguard consumers from potential fraud.

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