CEO Arthur Hayes and co-founders Benjamin Delo, and Samuel Reed, as well as head of business development Gregory Dwyer, have stepped down after the U.S. Department of Justice indicted them for violating the Bank Secrecy Act and conspiring to violate the Bank Secrecy Act. The charges are based on what prosecutors say are deliberately weak and inefficient customer identification procedures.
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BitMEX users pull $340 million following criminal, civil charges
BitMEX users withdrew over 32,200 Bitcoins from the platform after the CFTC and Department of Justice hit the derivatives exchange with anti-money-laundering violations. Bitcoin promptly tanked
The users of cryptocurrency derivatives exchange BitMEX withdrew nearly one-fifth of all the funds stored in the company’s wallets.
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BitMEX CEO Arthur Hayes facing jail for AML violations
The derivatives exchange’s founder has been charged with violating anti-money-laundering laws by the U.S. Attorney, and sued by that CFTC for the same thing
Hayes, along with the Seychelles-based cryptocurrency derivatives exchange’s co-founders Benjamin Delo, Samuel Reed, and head of business development Gregory Dwyer have been charged with violating the Bank Secrecy Act and conspiring to violate the Bank Secrecy Act by failing to put sufficient anti-money-laundering safeguards in place. Each charge carries a maximum penalty of five years in prison.
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Kik won’t get its day in court
The messaging app turned blockchain developer loses badly to the SEC after a summary judgement finds that 2017’s $100 million Kin ICO was an illegal, unregistered securities sale
In a devastating ruling, a federal judge handed down a summary judgement finding that Kik’s $100 million initial coin offering in 2017 was an unregistered and illegal securities offering.
