[Law] Illegal crypto ATM operator jailed in the UK

Summary: Olumide Osunkoya, a 46-year-old man, has been sentenced to 4 years in prison for operating illegal cryptocurrency ATMs in the UK worth over £2.5 million. He ran unregistered ATMs across multiple locations, continued his operations under a false name, and failed to conduct necessary compliance checks. His charges extend beyond ATM operations to include forgery and possession of criminal property.

Affected: UK Cryptocurrency Regulatory Authorities

Keypoints :

• Osunkoya operated unregistered crypto ATMs at 28 locations without FCA approval.
• He continued illegal operations under a false identity after his company ceased involvement.
• Convicted on charges of forgery and possession of criminal property in addition to illegal ATM operation.