Crypto Dispensers, a Chicago-based Bitcoin ATM operator, is contemplating a $100 million sale due to the ongoing legal challenges faced by its CEO over federal money laundering charges.

On Friday, the firm revealed in a press release that it engaged advisors to kickstart a “strategic review” and gauge interest from potential buyers. The company highlighted its transition in 2020 from physical ATMs to a software-focused model aimed at combating fraud and improving compliance in a stricter regulatory environment.

CEO Firas Isa articulated that the sale exploration is part of the firm’s strategy for future growth. “Hardware showed us the ceiling. Software showed us the scale,” he stated.

The company might continue its operations independently, depending on the outcome of these discussions, with no certainty regarding the completion of any transaction.

Top 10 crypto ATM operators. Souce: CoinATMRadar

The potential sale was announced shortly after the US Department of Justice unsealed an indictment that accuses Isa and the business of being involved in a $10 million money laundering operation. It is claimed that from 2018 to 2025, Isa accepted proceeds from wire fraud and narcotics trafficking via the firm’s ATM network. Reports indicate that he converted these funds into cryptocurrency while bypassing KYC regulations and obscuring their origins.

Both Isa and Crypto Dispensers have entered a not guilty plea to the conspiracy charges that could lead to a maximum sentence of 20 years in federal prison if found guilty, resulting in the possible seizure of assets related to the alleged scheme.

Crypto ATMs are facing increased scrutiny from regulators and local governments in the US as they battle complaints related to fraudulent activities, which have been rising sharply. In 2024, the FBI reported nearly 11,000 scams linked to crypto kiosks, reflecting a total financial loss exceeding $246 million. Consequently, cities are imposing bans and stringent limits on these devices to curb fraudulent behavior.

For instance, Stillwater, Minnesota, has implemented a prohibition on crypto kiosks following complaints from residents who were victims of significant scams, while Spokane, Washington, has introduced a citywide ban citing heightened fraud concerns.