In April 2025, Kelly Guzzo, PLC filed a lawsuit in the United States District Court for the District of Maryland against Athena Bitcoin, Inc. and Genesis Coin, Inc., two major operators in the cryptocurrency ATM industry.
The complaint alleges that the companies played a role in facilitating Bitcoin ATM scams by failing to implement reasonable safeguards to prevent fraudulent transactions. The lawsuit asserts violations of the Maryland Stop Adult Financial Exploitation Act, the Maryland Consumer Protection Act, and claims of negligence related to the design and operation of their cryptocurrency ATMs.
How Bitcoin ATM Scams Target Seniors
This lawsuit stems from the experience of a 75-year-old Maryland woman who was targeted by scammers impersonating her bank.
She was told that hackers were attempting to steal money from her account. Under pressure and fearing immediate financial loss, she was instructed to withdraw funds from her bank and deposit the money into a Bitcoin ATM operated by Athena Bitcoin at a local gas station.
The scammer provided a QR code, which she scanned at the machine. The transaction instantly transferred a substantial amount of money to the scammer’s Bitcoin wallet.
According to the complaint, the ATM lacked basic anti-fraud safeguards, such as:
- Deposit limits
- First-time transaction holds
- Enhanced warnings for high-risk transactions
- Intervention mechanisms for elderly users
As a result, the funds were transferred without delay, leading to significant financial harm.
Allegations Against Cryptocurrency ATM Companies
The lawsuit alleges that Athena Bitcoin and Genesis Coin:
- Knew their machines were frequently used in scams
- Failed to adopt stronger anti-fraud protections
- Maintained systems with obvious design defects
- Chose not to implement safeguards because doing so could reduce transaction-based profits
Cryptocurrency ATM operators are increasingly under scrutiny as scammers use these machines to quickly move funds beyond recovery.
Legal Options for Bitcoin ATM Scam Victims in Maryland
Companies that operate and manufacture cryptocurrency ATMs have a responsibility to take meaningful steps to prevent foreseeable abuse — particularly when vulnerable communities such as seniors are disproportionately targeted.
If you have been the victim of a Bitcoin ATM scam or other cryptocurrency-related fraud, the attorneys at Kelly Guzzo, PLC can help you:
- Investigate the circumstances of your loss
- Determine whether the ATM operator failed to implement reasonable safeguards
- File a claim against the appropriate cryptocurrency ATM company
- Seek compensation under state and federal consumer protection laws
There is no out-of-pocket cost to you. We only recover if you do. If you or a loved one has been harmed by a Bitcoin ATM scam, contact Kelly Guzzo, PLC to discuss your options.