CoinFlip (GPD Holdings LLC)
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anchored·4hZG9y…bGKqSummary
CoinFlip, operated by GPD Holdings LLC, is one of the largest Bitcoin ATM (BTM) networks in the United States, with over 140 kiosks in Missouri alone and thousands more nationwide. In 2026 the Missouri Attorney General sued the company alleging it knowingly facilitated fraudulent transactions and concealed transaction fees as high as 21.9% behind a prominently advertised $2.99 'network fee,' following a similar 2025 lawsuit by the Iowa Attorney General and a pending federal class action making comparable hidden-fee allegations. CoinFlip denies wrongdoing and says it is a licensed, regulated operator that has implemented fraud-prevention measures; none of the allegations against it have yet been adjudicated on the merits.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(7 events)
2015
CoinFlip founded in Chicago by Daniel Polotsky, Kristoffer Dayrit, Alan Gurevich, and Benjamin Weiss as a Bitcoin ATM company.
MarketsWikiApril 2021
Benjamin Weiss appointed CEO of CoinFlip, having previously served as COO.
Clay / CoinFlip CEO bio7 August 2023
Unauthorized third party accessed a CoinFlip employee account, exposing customer personal data, later the subject of class-action litigation.
ClaimDepot settlement summaryFebruary 2025
Iowa Attorney General Brenna Bird sued CoinFlip and Bitcoin Depot in Polk County District Court, alleging over $20 million in Iowan losses tied to the two networks' ATMs and violations of the Iowa Consumer Fraud Act.
Iowa Attorney General newsroomOctober 2025
Court granted final approval of the $475,000 class-action settlement in In re CoinFlip Data Breach Litigation.
ClaimDepot settlement summaryFebruary 2026
Federal class action (Khoury v. GPD Holdings LLC) filed in the U.S. District Court for the Northern District of Illinois alleging concealed fees up to 21.90% behind a $2.99 advertised flat fee.
BlockTribuneMay 2026
Missouri Attorney General Catherine Hanaway announced a lawsuit against GPD Holdings LLC (CoinFlip) in Jasper County Circuit Court, alleging facilitation of fraud and concealed fees up to 21.9%, seeking up to $1.826 million in civil penalties and an injunction against Missouri operations.
Missouri Attorney General's Office / KSMUDecision Log
- hash: FtNCeJZrk2q3ijdqpYXnybzMXjRgsv6zUgsLHxNTX7CP
This investigation is cryptographically anchored to the Solana blockchain (1 event). 0 of 28 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 9/27/2026, 5:06:09 PM
last updated: 9/27/2026, 5:06:31 PM
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