AML Software Sues Athena Bitcoin for ATM Source Code Theft
AML Software has filed a federal lawsuit against Athena Bitcoin Global Inc., Taproot Acquisition, PSBC and CEO Jordan Mirch in Florida’s Southern District, alleging a fraudulent scheme to steal the proprietary source code running nearly 3,000 Bitcoin ATMs. According to the complaint, Mirch used false representations to acquire SandP Solutions’ 2,800 ATMs amid regulatory and financial pressures, then collaborated with Athena Bitcoin to transfer both hardware and software without a valid license. AML Software asserts that the code was never sold or licensed and accuses the defendants of copyright infringement, trade secret theft and unlawful conduct.
The lawsuit challenges a recent $9 million settlement in which Athena Bitcoin claimed immediate ownership of the ATMs and source code. AML Software seeks an injunction to halt any further distribution of the stolen software and compensation for its losses. This case follows separate litigation in Washington, D.C., over alleged predatory fees on elderly ATM customers.
If successful, the suit could set important precedents for software licensing and intellectual property protection in the Bitcoin ATM industry. Traders should monitor potential regulatory scrutiny and legal liabilities around ATM code security, as heightened enforcement may impact network uptime and operational costs for ATM operators.
Neutral
The lawsuit increases legal and regulatory risks for Bitcoin ATM operators, potentially leading to higher compliance costs and network disruptions in the short term if injunctions are granted. However, it does not directly affect Bitcoin’s protocol or market fundamentals. In the longer term, clearer IP protections may strengthen industry integrity but will likely have minimal impact on Bitcoin price. Overall, the news is neutral for BTC trading, as it pertains to ATM software liability rather than cryptocurrency value.