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California orders Coinflip to pay $4.8M to bitcoin ATM scam victims and refund illegal fees.

Market News
09 Nov 2026, 12:45 WIB
Blockonomi
View Source
Bearish
California orders Coinflip to pay $4.8M to bitcoin ATM scam victims and refund illegal fees.

California's financial regulator has ordered bitcoin ATM operator Coinflip to pay over $4.8 million to victims of scams involving its kiosks, mostly affecting older adults. The Department of Financial Protection and Innovation found Coinflip failed to verify users properly, allowed transactions exceeding the $1,000 daily limit, and charged illegal fees totaling over $350,000. This order requires Coinflip to compensate victims fully and stop deceptive practices, highlighting increased state efforts to protect crypto ATM users from fraud. Similar actions have been taken in Arizona, Alabama, and Ohio to help scam victims recover lost funds.

Bitcoin ATM operator Coinflip is the subject of a fraud order, with Pluang market data providing context as of Nov 09, 2026 18:02 WIB: among 50 major cryptocurrencies, only 10 rose while 39 fell. BAL (Balancer) gained 11.14% to Rp16.297, EOS (EOS.IO) rose 8.13% to Rp12.649, contrasting sharply with ONE (Harmony), which dropped 19.28% to Rp28 and had a nearly even sell/buy order split on Pluang.

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