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The Iowa Supreme Court has ruled that funds deposited into a Bitcoin ATM as part of scams must be returned to the operator, Bitcoin Depot, rather than the victims. This decision overturns a lower court ruling and highlights the legal complexities surrounding crypto transactions.
- The Iowa Supreme Court reversed a lower court decision, ruling that scam deposits must be returned to Bitcoin Depot, not the victims.
- Bitcoin Depot argued it had no way of knowing the transactions were fraudulent, as users certified ownership of the recipient wallets.
- Iowa's Attorney General has sued Bitcoin Depot and CoinFlip, alleging high fraud rates and excessive transaction fees.
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