BitMEX Co-Founders, Including Arthur Hayes, Fined $30 Million for Anti-Money Laundering Violations

The three co-founders of BitMEX crypto derivatives exchange have been ordered to pay $10 million each in consent payments for violations of American laws. A federal judge has fined BitMEX founders Arthur Hayes, Benjamin Delo, and Samuel Reed $30 million after the trio pled guilty to CFTC charges.

On Thursday, The U.S. District Court for the Southern District of New York penalized the co-founders of cryptocurrency exchange platform BitMEX Arthur Hayes. The three co-founders are required to pay a total of $30 million civil monetary penalty for their actions.

The orders require each to pay a $10 million civil monetary penalty, and also enjoin Hayes, Delo, and Reed from further violations of the Commodity Exchange Act (CEA) and other regulations. On, the Commodities Futures Trading Commission (CFTC) announced that the U.S. District Court for the Southern District of New York (SDNY) has issued a consent order against Arthur Hayes, Benjamin Delo, and Samuel Reed regarding their involvement in anti-money laundering violations at BitMEX.

This $30 million fine underscores the ongoing scrutiny and enforcement efforts by US regulators within the cryptocurrency industry. The BitMEX co-founders' case serves as a stark reminder of the consequences of failing to comply with AML regulations.