Breaking: US Justice Dept Charges 2 Russian In Mt Gox Hack

Anvesh Reddy
June 9, 2023
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Mt Gox Bitcoin Department of justice

Crypto Market News: The US Department of Justice on Friday said it unsealed charges related to the hacking of cryptocurrency exchange Mt. Gox in 2011. The charges are also linked to the operation of the cryptocurrency exchange BTC-e, it said in a statement. The defunct crypto exchange has recently been in news over the deadline for repayments to its creditors. The new deadline for the repayments has been extended until October 31, 2023. With the news of repayment, it was earlier speculated that the added Bitcoin could actually have a negative impact on the BTC price.

Also Read: Robinhood To Delist Cardano (ADA), Polygon (MATIC), Solana (SOL)

The Justice Department explained that two Russian nationals have eventually helped cyber criminals in laundering funds worldwide. The two individuals have been charged with conspiring to launder huge amounts of Bitcoin.

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DOJ Charges Mt Gox Hackers

Not only did the two Russians were charged with conspiring to launder Bitcoin, one of them was also charged with conspiring to operate BTC-e, another defunct cryptocurrency trading platform that was shut down in 2017. The Department alleged that since 2011, Alexey Bilyuchenko, 43, and Aleksandr Verner, 29, stole a massive amount of cryptocurrency from Mt. Gox, contributing to the exchange’s ultimate insolvency.

“Bilyuchenko and Verner are charged with conspiring to launder approximately 647,000 bitcoins from their hack of Mt. Gox. Bilyuchenko is also charged with conspiring with Alexander Vinnik to operate BTC-e from 2011 to 2017.”

As and when the Mt Gox creditors start getting their payout, whether the Bitcoin price will have a significant reaction remains to be seen.

Also Read: Top Analyst Predicts New Crypto Bull Run ‘Has Just Begun’

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.