Founder of BitMEX crypto exchange sentenced to six months of house arrest

Arthur Hayes, one of the founders of the BitMEX cryptocurrency exchange, has avoided imprisonment during his sentencing hearing in New York.

Judge John Coeltjes sentenced Hayes to six months of house arrest as part of a two-year probationary period. Earlier, he pleaded guilty to violating the US Bank Secrecy Act (BSA).

As a reminder, the prosecution demanded that Hayes be sentenced to 6−12 months in prison. «Hayes made substantial profits through BitMEX, personally earning over one hundred million dollars, by willfully violating the BSA and failing to implement an anti-money laundering (AML) program,» the prosecution stated in a May 9 court letter.

The judge allowed Hayes to travel after six months of house arrest in the United States, which will allow him to return to Singapore for part of his probation.