Former BitMEX CEO Arthur Hayes was sentenced Friday in federal court in New York to two years probation and six months house arrest with site supervision. Hayes had pleaded guilty in February to charges of willfully failing to implement an anti-money laundering (AML) program at the exchange.
Hayes and his BitMEX co-founders Samuel Reed and Ben Delo, as well as the company's first employee, Gregory Dwyer, were originally charged in October 2020 with one count each of violating the Bank Secrecy Act (BSA) and one count of conspiracy to do so.
Hayes, a U.S. citizen and longtime Singapore resident, turned himself in to U.S. authorities in Hawaii last April under a plea agreement negotiated between his attorneys and federal prosecutors. He was released on $10 million bail, secured by $1 million in cash and co-signed by his mother.
This is a developing story and will be updated.