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The U.S. Department of Justice has announced that Firas Isa (36) and his company Virtual Assets LLC, operating as Crypto Dispensers, have been indicted for their alleged involvement in a money laundering scheme of at least €9 million. The company operated numerous bitcoin and other cryptocurrency ATMs across the United States where customers could deposit cash to convert it into cryptocurrency.
According to the indictment, criminals and fraud victims deposited large amounts at the Crypto Dispensers ATMs. The money was then converted into cryptocurrency and transferred to virtual wallets to conceal its origin. The alleged criminal activity took place between approximately August 2018 and May 2025.
Potential Consequences #
Isa and his company are both accused of working together to launder money, according to the indictment from the U.S. Attorney’s Office in Illinois. If convicted, Isa faces up to 20 years in prison. Both Isa and the company have pleaded not guilty. The first hearing in this case is scheduled for January 30, 2026.
The case is receiving significant attention as cryptocurrency ATMs have grown in popularity in recent years. While often used by regular customers, researchers note they are also attractive to criminals looking to move money quickly and anonymously. Consequently, increased scrutiny is being placed on such companies, and regulations are becoming stricter.
Crypto ATMs Not Secure Enough #
This case demonstrates that even physical cryptocurrency ATMs are not immune to misuse. Analysis sites indicate that this type of infrastructure is vulnerable to financial crime. In Illinois, new legislation has recently been introduced requiring crypto ATM operators to register and imposing transaction limits.
In the coming months, it will become clear what specific charges Isa will face and what evidence prosecutors have. Until then, Isa remains free, but the potential sentence of decades in prison hangs over his head.