Osunkoya later transferred the machines from GidiPlus Ltd and personally operated a reduced network of up to 12 crypto ATMs under a false name and company to evade detection.

Osunkoya failed to carry out the necessary checks to ensure that the ATMs were not being used by criminals to launder the proceeds of crime.

Osunkoya was also convicted and sentenced for forgery, using false identity documents and possessing criminal property.

At the hearing, the Authority requested that the court initiate confiscation proceedings under the Proceeds of Crime Act 2002. These proceedings will look to recover any financial benefit Mr Osunkoya obtained as a result of his criminality.

Osunkoya’s sentence is the first for unregistered cryptoasset activity in the UK. It follows the Authority's’s operation, working in partnership with law enforcement agencies, to tackle illegal crypto ATMs across the country. In 2023, the Authority visited 38 locations and "disrupted" 30 machines. The number of crypto ATMs advertised on CoinATMRadar in the UK has fallen from more than 80 in 2022 to nil in 2024.

What does the Authority mean by "disrupted"? WMLR has absolutely no idea. Perhaps it might like to tell us. We rather hope that it means they applied a cattle prod and made its computer confused.