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UK Crypto ATM Operator Guilty of Fraud

  • Olumide Osunkoya, a crypto ATM operator in the UK, has been found guilty of fraud.
  • Osunkoya operated at least 11 unregistered crypto ATMs, processing over £2.6 million in cryptocurrency transactions.
  • He charged transaction fees ranging from 10% to 60% and tried to hide his illegal activities by using a false name and forging documents.
  • The FCA, the UK's regulatory authority, warns crypto users to be cautious when using crypto ATMs, as they can be exploited for money laundering.

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