A New York federal court has ordered the co-founders of BitMEX exchange to pay $30 million in civil monetary penalty in connection with charges of violating the U.S. Bank Secrecy Act.
The exchange laid off 75 people in a move sources say was orchestrated by founder Arthur Hayes despite stepping back after he was charged by U.S. authorities.
Arthur Hayes and Benjamin Delo, co-founders of the BitMEX cryptocurrency exchange, have pled guilty to using their platform as a means of dodging U.S. money laundering rules.
Greg Dwyer has been charged alongside BitMEX founders Arthur Hayes, Ben Delo, and Samuel Reed, who have already surrendered to U.S. authorities and stand to face up to five years behind bars.
Dwyer, the former head of operations at BitMEX, will join his colleagues including ex-CEO Arthur Hayes to face banking law breach charges in the United States.
BitMEX and its founders are facing a growing wave of legal action over what prosecutors and plaintiffs call a wholesale scheme to manipulate digital asset markets at the expense of its own customers.
BitMEX and its trio of founders Arthur Hayes, Benjamin Delo and Samuel Reed are facing yet another RICO lawsuit in California, as shown by newly-filed court documents.
Arthur Hayes has reportedly surrendered himself to U.S. authorities in Hawaii, to face charges of failing to implement money laundering protections at BitMEX exchange.
Under the terms of the bond, Ben Delo can travel back to the United Kingdom and return to the United States only when called upon by the court.
Two prominent names in the Crypto Crime Cartel were arrested as the long overdue legal reckoning chews through prominent industry companies and individuals at the start of what is set to be a busy 2021.
BitMEX CEO Arthur Hayes as well as other BitMEX executives have stepped down from their position at the exchange and its holding company.