U.S. Department of Justice sues Bitcoin ATM operator 'Athena'..."Exploitation of the vulnerable"
Summary
- The U.S. Department of Justice said it has sued Athena, the operator of Bitcoin ATMs, on charges of financial exploitation.
- Athena is accused of violating consumer protection laws due to insufficient fee disclosure and lack of fraud prevention measures.
- 93%% of total deposits were linked to fraud crimes, and victims among digital asset-vulnerable groups suffered significant harm.
The U.S. Department of Justice has filed a lawsuit against local Bitcoin (BTC) automated teller machine (ATM) operator Athena Bitcoin for financial exploitation.
According to the DOJ website on the 8th (local time), Brian Schwalb, Washington D.C. Attorney, said, "Athena refused refunds while knowing about the fraud victims and collected undisclosed fees of up to 26%," and filed the lawsuit. The charges against Athena are violations of consumer protection laws and laws preventing financial exploitation of the elderly and vulnerable due to inadequate fraud prevention measures and operation of an opaque fee system.
According to the investigation, during the first five months Athena operated in the Washington DC area, 93% of total deposits were linked to fraud crimes, and the average age of victims was 71, a group vulnerable in digital assets. The average loss was 8000 dollars.
Athena currently operates a total of 7 Bitcoin ATMs in Washington DC.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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