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Feds cost two males for the $400 million Bitcoin hack that took down Mt. Gox

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The US federal authorities has charged two Russian nationals in reference to the collection of hacks that brought down the Mt. Gox Bitcoin exchange in 2014. In a press release on Friday, the Division of Justice says it charged Alexey Bilyuchenko and Aleksandr Verner with conspiring to launder 647,000 Bitcoins stolen from the trade, which was price round $400 million on the time.

The federal government is individually charging Bilyuchenko for working with Alexander Vinnik — who the DOJ indicted in 2017 — for working BTC-e, a now-defunct crypto trade that served as “one of many major methods by which cyber criminals around the globe transferred, laundered, and saved the legal proceeds of their unlawful actions.”

On the time of Vinnik’s indictment, the federal government alleged that stolen funds from Mt. Gox handed by BTC-e and wallets related to Vinnik. Now the DOJ alleges that Bilyuchenko, Verner, and different co-conspirators laundered over 300,000 Bitcoins that had been stolen from Mt. Gox as nicely.

“As alleged within the indictments, beginning in 2011, Bilyuchenko and Verner stole an enormous quantity of cryptocurrency from Mt. Gox, contributing to the trade’s final insolvency,” Assistant Legal professional Normal Kenneth A. Well mannered, Jr. says in a press release. “Armed with the ill-gotten features from Mt. Gox, Bilyuchenko allegedly went on to assist arrange the infamous BTC-e digital foreign money trade, which laundered funds for cyber criminals worldwide.”

Whereas Bilyuchenko faces fees with conspiracy to commit cash laundering and working an unlicensed cash companies enterprise and over 20 years behind bars, Verner is charged with conspiracy to commit cash laundering with a most penalty of 20 years in jail.

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