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Unlicensed MSB Bitcoin ATM

In August 2019, Kunal Kalra pled guilty to US federal criminal charges for owning and operating an unlicensed MSB where he exchanged up to $25 million in cash and cryptocurrency for darknet drug dealers and other criminals in person and through his bitcoin ATM.

In this case study, we break down the details of the Kalra’s illegal activities—including how he skirted detection at a top 10 US bank—and show how banks can use CipherTrace Armada™ to uncover similar bad actors using crypto on their payment networks.

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