Owner of a cryptocurrency ATM network laundered $ 10 million in funds

firast Isa, a 36-year-old American businessman, has been charged with leading a conspiracy to launder $ 10 million through an unlicensed cryptocurrency exchange. According to the prosecutors, Isa, the founder and CEO of Virtual Assets LLC, conducted illegal funds through a network of Crypto Dispensers crypto ATMs operating throughout the United States.

Investigators allege that the suspect converted cash obtained from wire fraud and drug trafficking into cryptocurrency, placed it in virtual wallets, and concealed the source of the money and the persons who owned it. Isa and Virtual Assets LLC are charged with one article — conspiracy to commit money laundering. If proven guilty, the businessman faces up to 20 years in prison. Both defendants have pleaded not guilty. A preliminary hearing is scheduled for January 30, 2026, in the federal court of Chicago, presided over by Judge Elaine E. Bucklo.

Following the indictments, authorities also issued a warning about cryptocurrency ATMs, which are increasingly being used for money laundering. There are more than 1,000 such devices in Chicago, and experts note that they can be used in both legitimate transactions and anonymous cash transaction schemes. According to law enforcement officials, this case demonstrates the dark side of a technology designed to make finance more accessible and emphasizes the need for increased supervision of the crypto-ATM market.

Lawyers believe that the trial against Isa could be a turning point in the regulation of cryptocurrency services in the United States. In case of a guilty verdict, this decision could lead to the introduction of stricter requirements for customer identification, transaction limits, and reporting for cryptocurrency kiosk operators. Meanwhile, similar incidents, in particular in Massachusetts, have already caused multimillion-dollar losses from fraudulent schemes and prompted calls for restrictions or bans on crypto ATMs in some US regions.