SEC Fines Defunct Bitcoin Exchange Operator $68,000
The operator of two unlicensed digital currency exchanges has been ordered to pay more than $68,000 after a lengthy investigation by the US Securities and Exchange Commission (SEC), the country's top securities regulator. Ethan Burnside was the sole owner and operator of BTC Trading Corp, parent company of platforms BTCT Co and Litecoin Global Exchange (LTC Global) from August 2012 until trading and account activity ceased in October 2013. The amount Burnside will pay is equal to all profits he made from the exchanges, in addition to the fine. Burnside cooperated with the SEC investigation....
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Alexander Vinnik, the alleged owner and operator of the infamous cryptocurrency exchange BTC-e, has been found not eligible for release on bail in the United States, where he was recently transferred from Greece. The Russian, accused of large-scale money laundering through the now-defunct trading platform, and other crimes, rejects U.S. charges.
Alexander Vinnik Remains in California Prison, Russian Embassy Offers Help
Authorities in the United States have effectively denied release on bail for the IT specialist Alexander Vinnik, Russian media reported, quoting his record on the....
The legal trial related to defunct Israeli exchange Coin.mx has slowed down after the prosecution produced a new witness. Coin.mx is under suspicion for operating under a fake image while illegally accruing mlns of dollars in Bitcoin. Parties are in court on matters relating to the exchange’s illegal activities and those of its operator and owner. In a lengthy investigation, now two years after the exchange closed down, authorities are still probing those connected either to Coin.mx, its operator Anthony Murgio and its alleged owner, Gery Shalon. Among them are two men, Yuri Lebedev and....
This piece has been updated with additional information from the Nevada Attorney General's Office, as well as a copy of the formal complaint filed against Bryan Micon. The Nevada Attorney General's Office is seeking to arrest the operator of defunct bitcoin poker service Seals with Clubs. As reported by the Las Vegas Review-Journal, Bryan Micon was charged in Nevada court on Monday with operating an unlicensed interactive gaming system. Micon is accused of failing to acquire the necessary licensure to operate Seals with Clubs. If convicted, he could face up to 10 years in prison and....
Bitcoin Savings & Trust (BS&T) operator Trendon Shavers has plead not guilty to fraud charges in a New York District court. If convicted, Shavers faces up to 40 years in prison, as well as millions of dollars in potential fines and penalties. Shavers is charged with one count of securities fraud and one count of wire fraud. The prosecution alleges that Shavers promised outsized returns to investors but in reality operated a Ponzi scheme by paying early investors with the proceeds from new ones. Shavers, who operated under the username pirateat40, solicited investors for BS&T during 2011....
Larry Dean Harmon, founder and operator of early bitcoin mixing services Helix and Coin Ninja, is being fined $60 million by the U.S. Treasury’s Financial Crimes Enforcement Network (Fincen) for allegedly violating anti-money laundering rules. According to documents published Oct. 19 by Fincen, the fine surrounds the transmission of “at least 356,000 bitcoin transactions through Helix between June 2014 and December 2017” on behalf of criminals using the dark web. Prosecutors allege Harmon was running an unregistered money services business (MSB) in violation of the Bank....