Yuri Lebedev of Coin.mx jailed 6 years for running illegal Bitcoin exchange

Bitcoin

For running an unlicensed Bitcoin exchange, Yuri Lebedev has been jailed for six years.

The sentencing also mentioned that the exchange called Coin.mx also endangered data of about 83 million customers of JPMorgan Chase.

As quoted by TheMerkle, a lawyer to Yuri Lebedev, Eric Creizman said he is “disappointed and dismayed” by this sentencing. Considering the federal sentencing guidelines call for up to 97 months, a 16-month jail sentence isn’t the worst possible outcome by any means. The software engineer wasn’t the only person of interest in this case, though, as Trevon Gross was convicted in March of this year as well.

According to the prosecution, Lebedev bribed Gross, a pastor, through church donations and other means. In exchange, Gross allowed the head honcho of Coin.mx to take over a small credit union. Another operator, Anthony Murgio, has already received a five-and-a-half-year prison sentence, whereas Gross will be sentenced later this month. It seems things are finally coming to a close as far as Coin.mx is concerned, which can only be considered a good thing.