Closure for BitMEX's Arthur Hayes? 6 months of house arrest, two years of probation, and a fine of $10 million.
. However, prosecutors from the Office’s Money Laundering and Transnational Criminal Enterprises Unit found the entrepreneurs to be guilty of not implementing AML safeguards, including not fulfilling know-your-customer obligations.
Despite the imminent possibility of serving jail time, owning up to the allegations resulted in Hayes being sentenced to a home confinement sentence that requires him to spend the first six months of his sentence from home. In addition, he also agreed to pay a fine of $10 million.Busting the myth related to the ease of laundering money using crypto, a new analysis highlights the potential of blockchain technology and crypto to track down financial crimes.
While numerous projects within the crypto ecosystem were victims of targeted attacks, bad actors continue to struggle when it comes to cashing out the stolen funds. Speaking to Cointelegraph, Dmytro Volkov, chief technology officer at crypto exchange CEX.IO, said that the notion of crypto being primarily used by criminals is outdated, adding: