NewStats: 3,263,466 , 8,180,216 topics. Date: Friday, 06 June 2025 at 04:18 AM 4x2y5g

The United Kingdom (UK) Financial Conduct Authority (FCA) has charged Olumide Osunkoya, a 45-year-old London resident, for allegedly operating an uned network of cryptocurrency automated teller machines (ATMs).

Similar to a bank ATM, crypto ATMs are machines that allow s to exchange standard money for cryptocurrency.

Crypto ATMs connect to a cryptocurrency exchange and convert deposited cash into crypto, with transactions processed on the blockchain, which is a digital ledger of financial transactions for cryptocurrency.

On Tuesday, FCA said Osunkoya was being charged with two offences under money laundering and terrorist financing regulations.

FCA said the charges against Osunkoya are the first criminal prosecution for such activity.

According to the authority, the offences, are related to fake documents “created and used” for his activities, and one offence of possession of criminal property “relating to the suspected proceeds of his crypto ATM business”.

The machines run by Osunkoya, the FCA said, processed £2.6 million worth of crypto transactions across multiple locations between December 2021 and September 2023.

FCA said Osunkoya had been the director of Gidiplus Ltd before acting independently, while the application to the company was rejected in 2021.

Osunkoya is expected to appear at Westminster magistrates’ court at the end of the month.

https://www.thecable.ng/nigerian-charged-for-operating-illegal-crypto-atm-network-in-uk/

Some people are FOOLISH.

You ESCAPED the Great Tinubulation in Nigeria. You got yourself into a country that works. But instead of following the RULES, you decided to exhibit the kind of LAWLESSNESS that made Nigeria a mirror of HELL.

This IDIOT has set another NEGATIVE record now that a Nigerian is the first person to be prosecuted for the crime he committed.

He has created another PROBLEM for sensible Nigerians. Everytime a similar case comes up in the future, the Case of this man would be cited as a PRECEDENT.

That's the height of it. Damn.


Not surprised tho. Many blokes overseas are deep down into this shit...pickers, mid men, chairmen...name it.

Is lack of legitimate opportunities the reason for his action? I doubt if the answer is yes.

Death to all fraudsters and kidnappers

Okay, I read through the article and I'm trying to understand the crime

Is it that crypto trading is illegal in the UK? When they say crypto ATM, is it like a physical ATM or a website?

Someone that understands should explain to me biko

Namaster:
Some people are FOOLISH.

You ESCAPED the Great Tinubulation in Nigeria. You got yourself into a country that works. But instead of following the RULES, you decided to exhibit the kind of LAWLESSNESS that made Nigeria a mirror of HELL.

This IDIOT has set another NEGATIVE record now that a Nigerian is the first person to be prosecuted for the crime he committed.

He has created another PROBLEM for sensible Nigerians. Everytime a similar case comes up in the future, the Case of this man would be cited as a PRECEDENT.

You can imagine!
They might even name the crime after him, who knows?

Yampotatocarrot:
Okay, I read through the article and I'm trying to understand the crime

Is it that crypto trading is illegal in the UK? When they say crypto ATM, is it like a physical ATM or a website?

Someone that understands should explain to me biko

crypto atm is like normal physical cash atm

Bitterkola100:
crypto atm is like normal physical cash atm

Thanks

Meaning he was able to physically get a location to install his ATM, put CCTV, connect it to power so that it'll constantly be on, got security to guard it, and the authorities didn't know for two years (or just left him)

Well sha, any how wey he do am, na him know, I guess the crime was, not getting ed then... If not, does that mean crypto trading is a crime?

Yampotatocarrot:

Thanks

Meaning he was able to physically get a location to install his ATM, put CCTV, connect it to power so that it'll constantly be on, got security to guard it, and the authorities didn't know for two years (or just left him)

Well sha, any how wey he do am, na him know, I guess the crime was not getting ed then... If not, does that mean crypto trading is a crime?

i was even surprised how baba was able to install the manchine illegally.
I have personally used it in two different locations and they are almost just as bulky as the normal cash atm.

Let me copy Abike Dabiri Erewa. No criminality and financial terrorism will be tolerated.

Olumide why na

Any always dis people

Hian

Does it give out physical btc?

How the dude was able to carryout his operation by installing those ATMs across multiple locations in an advanced country like the UK should be studied.

He even tried ing the business but rejected, that tells the dude have a dream.

This are talents that should be put to use in Nigeria provided we have a working system and Government. 😢

His name is not Emeka or Chinedu so the tribe is not of concern to some people and they won't insult his entire tribe like if it was Emeka or Chinedu

That's a lie, they are detaining that boy for no crime. The worthless Nigerian embassy should look into it.

Brown roof people at it again.
Spoiling people's name upandan!

Namaster:
Some people are FOOLISH.

You ESCAPED the Great Tinubulation in Nigeria. You got yourself into a country that works. But instead of following the RULES, you decided to exhibit the kind of LAWLESSNESS that made Nigeria a mirror of HELL.

This IDIOT has set another NEGATIVE record now that a Nigerian is the first person to be prosecuted for the crime he committed.

He has created another PROBLEM for sensible Nigerians. Everytime a similar case comes up in the future, the Case of this man would be cited as a PRECEDENT.

With or without Tinubu, Nigerians are always interested in crime.

Nigerians never disappoint, always representing in the wrong things

Family of Hushpuppi and Ekweremadu dem. Lawlessness lives in the blood of an average Nigerian. He thought everywhere is a shithole. They want to turn another man's land to a dustbin.

How?

Namaster:
Some people are FOOLISH.

You ESCAPED the Great Tinubulation in Nigeria. You got yourself into a country that works. But instead of following the RULES, you decided to exhibit the kind of LAWLESSNESS that made Nigeria a mirror of HELL.

This IDIOT has set another NEGATIVE record now that a Nigerian is the first person to be prosecuted for the crime he committed.

He has created another PROBLEM for sensible Nigerians. Everytime a similar case comes up in the future, the Case of this man would be cited as a PRECEDENT.

Some of you just open mouth and talk anyhow

sleek214:

Some of you just open mouth and talk anyhow

What's bad in what he said above

Brendaniel:
His name is not Emeka or Chinedu so the tribe is not of concern to some people and they won't insult his entire tribe like if it was Emeka or Chinedu

Small mind like you... A tribalist

The headline says NIGERIAN before anything else.

You even had the opportunity to leave this country,yet you left your sense behind.

These people and fraud. When will it ever end?

NwaNimo1:

https://www.thecable.ng/nigerian-charged-for-operating-illegal-crypto-atm-network-in-uk/

Jail them for life

TheTundeMuniru:


Small mind like you... A tribalist

The headline says NIGERIAN before anything else.

If speaking the truth means small MIND to you then that is your problem...

If speaking the truth means tribalism to you then that is till your problem...

Came to check the name of the criminal

No surprises

Namaster:
Some people are FOOLISH.

You ESCAPED the Great Tinubulation in Nigeria. You got yourself into a country that works. But instead of following the RULES, you decided to exhibit the kind of LAWLESSNESS that made Nigeria a mirror of HELL.

This IDIOT has set another NEGATIVE record now that a Nigerian is the first person to be prosecuted for the crime he committed.

He has created another PROBLEM for sensible Nigerians. Everytime a similar case comes up in the future, the Case of this man would be cited as a PRECEDENT.

It's not that hard bro