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BitMEX’s First Employee Agrees to Be Extradited to US to Face Money Laundering Charges

Gregory Dwyer, BitMEX’s first employee, has consented to be sent to the U.S., pending Bermuda’s approval.

Sep 15, 2021 at 2:30 p.m. UTC
Updated Sep 15, 2021 at 6:45 p.m. UTC

Former BitMEX executive Gregory Dwyer, currently residing in Bermuda, has agreed to extradition to the U.S. to face charges over his alleged involvement in money laundering activities while at the exchange.

Dwyer’s lawyers told a local magistrates court that Dwyer has consented to being extradited, and the move now awaits approval from Bermuda’s Governor Rena Lalgie, The Royal Gazette reported Tuesday.

The U.S. District Court for the Southern District of New York on July 1 requested that the Australian-born Dwyer be extradited to the U.S., but his lawyers then asked for an extradition hearing on his behalf, the report noted.

Last year, the U.S. Department of Justice charged former BitMEX CEO Arthur Hayes, Dwyer and company owners Ben Delo and Samuel Reed with allegedly violating the country’s Bank Secrecy Act and conspiracy to violate the Act.

The three former executives will face trial in the U.S. next spring, while Dwyer’s fate remains uncertain.

The U.S. Commodity Futures Trading Commission (CFTC) also charged BitMEX with executing futures transactions on an unregistered board, offering illegal options, failing to register as a futures commission merchant and a designated contract market, failing to implement proper know-your-customer rules and other counts, CoinDesk previously reported.


DISCLOSURE

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.

Sebastian Sinclair is a CoinDesk news reporter based in Australia.

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