Two individuals connected to the now-defunct bitcoin exchange Coin.max have been convicted following a trial in New York.
A Manhattan jury sided with the prosecution in convicting Coin.mx operator Yuri Lebedev and Pastor Trevon Gross. Both Lebedev and Gross had been charged with bribery and conspiracy charges, while Lebedev was also tried on bank fraud and wire fraud charges. No sentencing date has yet been set, according to a report from Reuters.
Lebedev and Coin.mx operator Anthony Murgio were arrested and charged in 2015 after the exchange's closure, which operated in Florida and allegedly served as a conduit for cybercrime funds. The exchange was also connected to a string of cybercrimes, including a 2014 data breach at JPMorgan Chase which exposed the personal data of tens of millions of customers.
Pastor Trevon Gross was accused of taking $150k in bribes for his role in using a New Jersey credit union to help the exchange process payments. Regulators later moved to shutter that exchange.
Defense attorneys for Gross and Lebedev claimed during the trial that their clients did not know that Coin.mx was running an illegal operation.
Murgio, who plead guilty to charges related to Coin.mx in January, is scheduled to be sentenced in June.
Image via Shutterstock
Coin.mxTrevon GrossYuri Lebedev
UK Government Lures Distributed Ledger Projects With $26 Million Fund
The United Kingdom’s technology development arm, Innovate UK, is doubling down on its support for blockchain-based technologies, it announced on Jan. 22.
The nondepartmental public office said it w
Bitcoin Forking Madness Could Result in 50 Splits This Year
Bitcoin is all the rage — but is it worth the risk?
UN Forms Blockchain Coalition to Fight Climate Change
The United Nations is increasing its efforts to promote applications of blockchain technology to further action on climate change.
In a Jan. 22 blog post, the U.N. announced that it has helped laun
Goldman Sachs Report Warns Investors of Bitcoin 'Bubble'
Goldman Sachs has claimed that bitcoin is a bubble bigger than the dot-com era and the famous Dutch tulip mania.
In a research letter to investors, the banking firm's analysts warned about the incr
Malta Finance Watchdog Pushes Ahead With Crypto Fund Rules
Malta’s Financial Services Authority (MFSA) published the feedback it received on its proposed rules for collective investment schemes involving cryptocurrencies on Monday.
The MFSA first sought fe
Virginia Lawmaker Calls for Crypto Impact Study
A state senator in the U.S. state of Virginia has filed new legislation that would mandate an impact study on cryptocurrencies.
A new bill introduced by Glen Sturtevant would launch a study, which,
EU Commissioner to Host 'High Level' Crypto Roundtable
A European Union commissioner plans to hold a meeting of public and private sector stakeholders to discuss the impact of cryptocurrencies on central banks.
In remarks at a press conference for the