Justice Department Takes Action in Mt. Gox Bitcoin Theft Case

Justice Department Investigates Bitcoin Theft Case at Mt. Gox

The U.S. Justice Department has charged Alexey Bilyuchenko and Aleksandr Verner for stealing 647,000 Bitcoin ($400 million) from former crypto exchange Mt. Gox. The hack allegedly occurred between 2011 and 2014, with the pair periodically transferring stolen Bitcoin from Mt. Gox to themselves. After the theft, the Bitcoin was sold via another exchange they controlled, facilitated by a fraudulent contract with a New York Bitcoin brokerage firm. Prosecutors suggest they made about $6.6 million from the deal. Bilyuchenko is also charged with conspiring to operate the now-defunct BTC-e exchange, associated with money laundering activities.