US Sends Bitcoin ATM Operator to Prison for Illegal Operation — 17 Machines S...
A bitcoin ATM operator has been sent to federal prison for two years for running an illegal cryptocurrency exchange operation. U.S. authorities have seized 17 bitcoin ATMs, along with some cryptocurrencies, including bitcoin. Illegal Bitcoin ATM Operator Sent to Prison The U.S. Department of Justice (DOJ) announced Friday that a California man, Kais Mohammad, has been sentenced to two years in federal prison “for operating illegal ATM network that laundered bitcoin and cash for criminals.” The Justice Department said that the 37-year-old operated an illegal crypto business....
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Convicted Silk Road operator Ross Ulbricht faces life in prison at a sentencing hearing tomorrow in New York. The end of the trial comes more than a year and a half after Ulbricht's legal battle with the US government first began. Ulbricht was found guilty in February of narcotics, computer hacking and conspiracy charges in connection with his operation of the Silk Road black market. As reported by Wired, prosecutors asked the court earlier this week that Ulbricht be given "a lengthy sentence" to dissuade other would-be dark market operators. "The court thus has an opportunity to send a....
Bitcoin ATM operator EasyBit recently installed an ATM in Fort Gratiot, Michigan at Boost Mobile store, marking nearly 50 machines in operation in over 10 countries, according to the company’s website. With nearly 50 machines, EasyBit becomes the second-largest bitcoin ATM operator behind Coinsource, which has 54 machines, according to numbers compiled by coinatmradar.com. After launching in December of 2013, EasyBit installed its first bitcoin ATM at Warie’s Thai Restaurant in Amsterdam, although it was later stolen. A Global Operator. EasyBit has machines in Arizona, Hawaii, Colorado,....
Russian crypto exchange BTC-e’s operator Alexander Vinnik has now been sentenced to five years in prison by a French court and fined 100,000 euros. He was arrested over three years ago in Greece, extradited to France, and is wanted in the U.S. and Russia. Vinnik Sentenced After 3+ Years Alexander Vinnik, the operator of the now-defunct Russian cryptocurrency exchange BTC-e, was sentenced on Monday to five years in prison by a French court for money laundering. The 41-year-old is also ordered to pay fines of 100,000 euros ($121,270). While convicted of money laundering, Vinnik was....
Ross Ulbricht has been sentenced to life in prison without the possibility of parole for the operation of Silk Road, the now-defunct online dark market. The sentence was handed down by US District Judge Katherine Forrest in New York today, capping roughly a year and a half-long legal process that saw multiple bitcoin auctions and the shock indictment of two federal agents involved in the investigation. In addition to the prison term, Ulbricht has been ordered to pay nearly $200m. In a 28th May court filing, US prosecutors asked Forrest to require that Ulbricht pay $183,961,921 to the....
A vocal minority of operators are taking a stand against major bitcoin ATM manufacturer Robocoin over its decision to cut ties with any business partners that refuse to upgrade to its new proprietary wallet platform. At press time, the operators of eight machines have confirmed to CoinDesk that their Robocoin bitcoin ATM units had gone offline over the issue. Robocoin has some 45 machines in operation globally, according to the CoinDesk Bitcoin ATM Map. The operators of these eight machines have refused to upgrade to the company's Robocoin 2.0 platform, which will require them to collect....