Former BitMEX worker Greg Dwyer was slapped with a 12-month probation for failing to set up an AML program in collaboration with his bosses, making the firm a money laundering platform.
Greg Dwyer pleaded innocent at first and vowed to fight the charges, but having seen that the three BitMEX founders only got a slap on the wrist, he changed his plea.
Benjamin Delo pleaded guilty to violating the Bank Secrecy Act alongside Hayes and Reed, but despite prosecutors pushing for a bigger sentence, he has avoided prison.
Arthur Hayes, co-founder/former CEO of the BitMEX cryptocurrency exchange, won’t see the inside of a prison despite allowing customers to use the platform to circumvent U.S. anti-money laundering rules.
BitMEX announced that after eight years in derivatives trading, it’s venturing into spot trading, but its legal woes are far from over, even after a $30m penalty.
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.
Samuel Reed, along with Arthur Hayes, Benjamin Delo, and Greg Dwyer, are accused of knowingly operating a BTC trading platform that had a lax anti-money laundering program and failed to conduct basic KYC checks.
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.