Co-founder of cryptocurrency exchange found guilty of violating the law

Ben Delo, co-founder of the BitMEX crypto exchange, will spend 30 months on probation — this is the sentence handed down by a federal court in New York.

«We are pleased that the court properly rejected the prosecution’s cynical attempt to exaggerate the seriousness of the Bank Secrecy Act charge in this case. Today’s probation sentence makes it clear that this case involves a compliance violation that resulted in a regulatory violation — nothing more,» — said a spokesperson for Delo.

BitMEX co-founders Ben Delo, Arthur Hayes, and Samuel Reed pleaded guilty to violating the Bank Secrecy Act (BSA) and admitted that they failed to establish and maintain an anti-money laundering program at the exchange. The partners also agreed to pay a $ 10 million fine.

From left to right: Arthur Hayes, Samuel Reed and Benjamin Delo.

In late May, one of the founders, Arthur Hayes, was sentenced to six months of house arrest as part of a two-year probationary period (the charges called for 6−12 months in prison).