Former BitMEX CEO Arthur Hayes surrendered to U.S. authorities in Hawaii to face charges he failed to take proper steps to safeguard the cryptocurrency exchange he co-founded from being used for money laundering, according to a published report.
- Hayes surrendered six months after prosecutors in New York accused him and his BitMEX co-founders of conspiring to get past U.S. laws requiring the implementation of money-laundering controls, Bloomberg said in its report.
- Hayes was released on $10 million bond pending court proceedings in New York, the report said.
- According to court documents released last month, the surrender was planned for April 6.
- Last October, BitMEX and co-founders Hayes, Samuel Reed and Ben Delo were charged by the U.S. Department of Justice with violating the Bank Secrecy Act and conspiracy to violate the act.
- Each charge faces a maximum sentence of five years in prison.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.