Credit: Volodymyr/Adobe Stock Athena Bitcoin, Genesis Coin Face Potential Class Action Over 'Epidemic' Elder Fraud
"We're taking a new legal problem and we're trying to find solutions for our client," said Marc E. Dann, an ex-state attorney general.
September 10, 2024 at 03:16 PM
4 minute read
Cryptocurrency
The original version of this story was published on Law.com
What You Need to Know
- An elderly woman withdrew nearly $50,000 and deposited it into a Bitcoin ATM.
- The woman alleged that Athena Bitcoin Inc. and Genesis Coin Inc. were aware of the fraudulent activity facilitated by their machines and assumed a duty to prevent it.
- The lead attorney behind the lawsuit said he is unaware of any other class action lawsuit over the operation of a cryptocurrency ATM.
An ex-state attorney general sued Athena Bitcoin Inc. and Genesis Coin Inc. in what he said was an unprecedented class action. The lawsuit was filed in a state court in Ohio after his elderly client was scammed into depositing tens of thousands of dollars into one of the defendant's ATMs, which convert physical currency into cryptocurrency.
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