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Arthur Hayes
pardonFinancial / FraudFurther reading
Convicted of
Arthur Hayes was co-founder and CEO of BitMEX, one of the world's largest cryptocurrency derivatives exchanges. Federal prosecutors charged Hayes and his co-founders with willfully failing to establish and maintain an adequate anti-money laundering program in violation of the Bank Secrecy Act. BitMEX marketed itself as a platform where customers could trade virtually anonymously, deliberately avoiding the know-your-customer (KYC) and anti-money laundering procedures that US law requires of financial institutions. The DOJ alleged this made BitMEX an attractive vehicle for drug traffickers and other criminals to move money. Hayes, along with co-founders Benjamin Delo and Samuel Reed and employee Gregory Dwyer, were charged in 2020. All four pleaded guilty in 2022 to one count each of violating the Bank Secrecy Act. Hayes also agreed to pay a $10 million fine as part of his plea.
Original sentence
Hayes was sentenced on May 20, 2022, to two years' probation conditioned upon six months' home confinement. He received a full and unconditional pardon on March 27, 2025, along with his three co-defendants.
Post-pardon activity
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No post-pardon activity recorded yet.
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