CryptoDispensers, the Chicago-based operator of bitcoin ATMs, is considering a potential $100 million sale as its founder faces federal money laundering charges.
In a press release Friday, the company announced it had hired consultants to conduct a “strategic review” and explore buyer interest. Crypto dispensers touted its 2020 shift from physical ATMs to a software-driven model, a move it says was to address rising fraud, compliance pressures and regulatory scrutiny.
CEO Firas Issa described the sales review as part of the firm’s next growth phase. “The hardware showed us the ceiling. The software showed us the scale,” he said.
The crypto ATM operator noted that it can continue to operate independently depending on the results. There is also no assurance that any transaction will be completed.
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CEO of crypto dispensers accused of money laundering
The potential sale review was announced days after the US Department of Justice indicted Isa and the company on charges of facilitating a $10 million money laundering scheme.
Prosecutors allege that between 2018 and 2025, ISA knowingly accepted the proceeds of wire fraud and drug trafficking through the firm’s ATM network. Despite KYC requirements, the DOJ claims he converted the funds into cryptocurrencies and transferred them to wallets designed to obscure their origins.
Both Issa and CryptoDispensers have pleaded not guilty to a single conspiracy count, which carries a maximum 20-year federal sentence. If convicted, the government can seize assets linked to the alleged scheme.
Related: Australia’s financial watchdog may have the power to ban crypto ATMs
US cities crack down on crypto ATMs
Crypto ATMs have come under pressure from US regulators and local governments, raising concerns over fraud. The FBI reported nearly 11,000 scam complaints linked to crypto kiosks in 2024, totaling more than 6,246 million, prompting lawmakers to scrutinize the machines’ role in disclosing identities and enabling illegal activity.
Cities are now responding with bans and stricter restrictions. In Stillwater, Minnesota, officials banned crypto kiosks after several residents lost thousands of dollars to scams, including one incident involving a fake PayPal “overpayment.”
Spokane, Washington, imposed a citywide ban in June, citing an increase in scams and calling the machines a “preferred tool for scammers.”
Other jurisdictions are opting for restrictions rather than an outright ban. Grosse Pointe Farms, Michigan, despite having no active crypto ATMs, imposed a daily limit of $1,000 and a two-week cap of $5,000 on future kiosk transactions to protect residents from potential fraud.
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