Crypto Dispensers, based in Chicago, is looking at a possible $100 million sale as its CEO, Firas Isa, confronts federal accusations of running a money laundering operation involving millions.
In a press release issued on Friday, the company revealed it has enlisted advisors to initiate a “strategic review” to gauge interest from potential buyers. The firm highlighted its transition from physical ATMs to a software-centric model initiated in 2020, a decision influenced by the increasing risks of fraud and regulatory pressures.
CEO Firas Isa characterized the sale exploration as part of the company’s upcoming developmental phase, stating, “Hardware showed us the ceiling. Software showed us the scale.”
Crypto Dispensers also indicated it might continue to operate independently based on the strategic review’s outcome, though no definitive transaction has been guaranteed.
Top 10 crypto ATM operators. Source: CoinATMRadar
The scrutiny follows an indictment by the U.S. Department of Justice that charged Isa with facilitating a $10 million money laundering operation through the company’s ATM network between 2018 and 2025. Prosecutors alleged that despite Know Your Customer (KYC) mandates, Isa engaged in converting illicit funds into cryptocurrency and further transferring them to wallets crafted to conceal their source.
Isa and Crypto Dispensers have both asserted their innocence regarding the charges, which could result in a maximum federal penalty of 20 years. Should they be found guilty, the government has the authority to confiscate assets linked to the alleged money laundering activities.
Additionally, pressures are escalating against crypto ATMs nationwide, as authorities become increasingly concerned about their potential misuse for fraud. Recent reports have indicated a rise in scam complaints related to crypto kiosks, with cities implementing bans and strict regulations.
For instance, Stillwater, Minnesota, has enacted a prohibition on cryptocurrency kiosks following numerous fraud incidents, while Spokane, Washington has undertaken similar measures citing a troubling surge in scams associated with these machines.
