The post ATM Operator Athena Bitcoin Profits From Elderly Scams, Alleges DC Attorney General appeared on BitcoinEthereumNews.com.

In brief Washington, D.C., Attorney General Brian L. Schwalb accused ATM operator Athena Bitcoin of ignoring scams targeting elderly residents. The firm faces two counts of violating the Consumer Protection Procedures Act through deceptive and unfair trade practices. The firm operates 4,100 Bitcoin ATMs in five countries. Washington, D.C., Attorney General Brian L. Schwalb unveiled a lawsuit against Athena Bitcoin, Inc., on Monday, accusing the Bitcoin ATM operator of consistently ignoring scams targeting elderly residents and failing to disclose excessive fees. The firm, which operates 4,100 Bitcoin ATMs in five countries, was charged with two counts of violating the Consumer Protection Procedures Act through deceptive and unfair trade practices. Athena was also charged with the financial exploitation of vulnerable adults and the elderly. Athena’s stock, which trades over-the-counter, rose 8.5% to $0.02 on Monday, according to Yahoo Finance. The company’s stock price has plummeted 83% year-to-date. An Athena spokesperson told Decrypt that the firm strongly disagrees with the allegations and will defend itself in court. “We employ aggressive safety protocols to protect the financial interests of our customers, and we provide robust consumer education to ensure they are well informed of the risks, as well as safe practices, associated with kiosks,” they said. “Our kiosks employ multiple safeguards, from prominent warnings and daily transaction limits to five separate verification screens designed to stop coerced transactions and confirm that bitcoin currency is going to a wallet that [the customer] owns.”  Bitcoin ATMs allow customers to exchange cash for crypto, and they are frequently used by scammers as a way to collect payouts from victims because of the irreversible nature of crypto transactions. Their targets often know little about how cryptocurrencies work.  In its first five months of operation within the nation’s capitol, 93% of funds deposited into Athena’s kiosks were “the product…

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Filed under: News - @ September 9, 2025 4:29 am