In a lawsuit that reads like a high-stakes cyber-heist, AML Software has accused bitcoin ATM operator Athena Bitcoin of stealing its crown jewel: the proprietary source code powering thousands of crypto machines. The case, filed Tuesday in the Southern District of Florida, alleges copyright infringement, misappropriation of trade secrets, and a calculated scheme involving both Athena and Taproot Acquisition Enterprises CEO Jordan Mirch.
According to the complaint, nearly 3,000 bitcoin ATMs originally operated by SandP Solutions LLC (S&P) carried AML’s code under license. That license traces back to 2020, when S&P created the code and then transferred all rights to AML in 2021. AML continued to maintain and develop the software while licensing it back to S&P.
A Fragile Partner, A Strategic Play
S&P’s troubles became the opening Athena allegedly exploited. In 2023, S&P was criminally charged for operating unlicensed bitcoin ATMs in Ohio, effectively forcing it out of business. Strapped for cash, the company could no longer operate its network of machines.
AML claims that’s when Athena and Mirch pounced, orchestrating a two-pronged strategy: taking physical possession of S&P’s ATMs, while quietly plotting to copy and resell AML’s code. AML alleges Athena even floated the idea of purchasing the code outright in August 2023 but walked away—only to find another way to get it without paying.
