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
An Interview With Angelo Melis, Founder of Local World Forwarders (LWF) Project
The applications of blockchain technology across industries is increasing every day. Among these, the supply chain and logistics sector is one among them. Recognizing the need for a complete overhaul
Mario Draghi States There’s no Need for Bitcoin Regulation in Europe Right now
Europe is a rather controversial region when it comes to Bitcoin and cryptocurrencies. Up until this point, there is no hint of any regulatory measures whatsoever. That isnât necessarily a bad
Bitcoin Price Could Reach $10,000 if China Resumes Cryptocurrency Trading This Year
Earlier today, on October 21, the Bitcoin price achieved a new all-time high at $6,199. The market is confident that the price of Bitcoin could reach $10,000 in the mid-term if major markets such as
Coinbase Claims the Bitcoin Gold “Fork” has Already Taken Place
There are some conflicting reports regarding the Bitcoin Gold fork date. This is not entirely surprising, as the project is poorly organized at best. The website claims the âforkâ â which isnâ
Blockchain Asset Fund: Community Driven Investment Solution, Announces BAF Token Fundraiser
The cryptocurrency industry has in the recent days, broken all the past records. The rapid growth in value of the overall market has evoked mixed reactions, with some hailing the digital currency
SegWit2x Lead Mike Belshe: ‘Things Are Looking Good’ for Bitcoin Hard Fork
BitGo chief executive and SegWit2x project lead Mike Belshe says that, despite contention within the bitcoin community related to the block size debate, “things are looking good” for the SegWit2x hard
ECB Chief: Bitcoin Not ‘Mature’ Enough for Regulation
European Central Bank (ECB) chief Mario Draghi says that bitcoin and other cryptocurrencies are not mature enough for regulation.
As reported by CNBC, the ECB president made these comments during a
Bitcoin Price Climbs to $6,200 as Record-Setting Advance Continues
Bitcoin’s record-setting run continued on Saturday, as the bitcoin price touched the $6,200 mark to set a new all-time high.
On Friday, bitcoin shocked analysts and investors alike when it made a s