General Lawyer Iowa to sue Cripto ATM companies

Lawyers Law General Brenna announced on Wednesday at a press conference to submit lawsuits under Iowa for consumer confirmation, two most popular cryptocurnent banking companies in the state, for their alleged assistance in Ajovan.

“Like a lawyer and as a prosecutor, nothing crazy than I see how Iovan annoyed the word,” the bird said at the new conference. “These companies didn’t do almost enough to prevent fraud on their machines. … these companies benefit from victims of fraud.”

Although the bird’s office provided copies of the press lawsuits, online court records have not shown Wednesday night, they were still submitted.

Both companies have announced statements on Wednesday night in response to bird announcements. They both emphasized security procedures that have in effect and did not agree with the bird claim to help deceit.

Implementation of laws, citizens’ complaints

The bird said that her office began researching cryptic ATMs in October 2023. years after the law enforcement agencies and citizens on Internet and telephone fraud relying on CRIPTO ATMs to complete their scams.

CRIPTO ATMs are usually not found in banks and are not used to connect to regular bank accounts – already used to exchange money for cryptocurstity. The money can be inserted into the machine and transferred to the crypto wallet anywhere in the world. Once it was transferred, it is almost impossible to return to the bird.

It makes ATMs with a popular fraud tool, which connect with Ayovians over the Internet or phone and send them money through ATMs, often by lying about emergencies involving a family member or arrest order to miss the jury.

“CRIPTO ATM companies should also know, their entire business model depends on it. Some of these companies take more than 20 percent of money that artists sent these machines,” the bird said. “They profit from the scams and they act, these crypto ATM agencies, act as a whitening white driver. Imagine a taxi driver who just appears on bank robbery. It is a reality we are dealing with.”

As part of his investigation, the bird’s office is courtware of the 14 Cripto ATM company for Ajovan lists who sent money through their kiosks. From those lists, the office reached the Ayana who used ATMs. The office has also researched receivables given to local law enforcement agencies that included cryptic ATMs.

According to the data that he had followed the bird’s office so far, the Ayowans lost $ 7.2 million in the Bitcoin Depot and $ 11.2 million at the Bitcoin’s ATMs. The bird said companies also hide how much they charge for fees, and Bitcoin Depot seduced to beneficiaries about her refund policy.

“Being clear, the problem here has nothing to do with cryptocurrency. The criptocurrency is an exciting development, new technology. It has everything to shot on Cripto ATMs,” the bird said. “If we set up a simple question,” Can these companies survive without these scams? “What would be the answer? From our data the answer is not.”

Ways not to excess

The news conference on Wednesday also included the comments of Adam Gregga, former Governor Iowa who is now president and executive director of the IOOVA Banker’s Association. He spoke about how Iovanci could protect against crypt’s frauds and other fraud.

Bankers are trained to notice the scams signs, so if the banker asks questions about your transaction or warning you, it looks suspicious, it is worth listening to you. He also advised him to slow down the emergency over the phone or the Internet, because the fraudsters often strive for victims to actually act without time to act, without taking time to think through what they said.

“Don’t pull cash in response to an unexpected call or message, and basically don’t believe you to use a crypto atm to solve the problem. The ruling does not work,” Gregg said.

The bird also asked the victim of fraud, a woman identified at a press conference as Laurie, to speak. Laurie said she lost $ 25,000 for a cryptic atm after somewhat represented her federal officer and told her that she was arrested in Texas for money laundering and that someone probably stole their identity.

She was told not to talk to anyone else about the situation and making money in what she told her to be a federal account through the crypto atm, with magnifications to return the money after the case was resolved.

Companies match

Both ATMs refused bird claims.

“We do not believe that these allegations are reflected or consumer protection practices, which we are looking forward to the defense with Blocchain analytics to stop fraud, visible warnings about consumers and educational campaigns,” Coinflip statement “reads”.

“Thousands of Americans count freedom to use cross-legit and protection of these consumers every day as they use kiosks to access digital currency an important way to support national cylinders innovation of our cripto.”

The agreed place of Bitcoin, stating that the company is “dedicated to the leaders of the industry and enabling the highest compliance standards in the Bitcoin ATM Industry.”

“Our leading compliance program includes robust knowledge designed to detect and prevent sanctions, monitoring BLOCKCHAIN. Depot BitCoin and Consumer Representation Groups to promote responsible legislation for the BitCoin ATM Industry that is focused on Compliance, consumer prevention and privacy measures. Depoship depoz remains committed to raising industrial standards and providing secure and transparent experience for all users. “

Comments: (319) 398-8328; emily.andersen@thegazette.com