Australian crypto mogul freed on $ 2 million bail

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Australian bitcoin tycoon Greg Dwyer has been released on $ 2 million ($ 2.7 million) bail after being extradited to the United States and placed in the custody of the US Marshals.

Mr Dwyer was presented to US authorities at JFK Airport in New York last month and was immediately released on bail pursuant to an agreement reached between his lawyers and the US Department of Justice.

Greg Dwyer and Arthur Hayes face serious criminal charges in the United States. Credits: Mark Stehle and Business Insider

As The Age and Sydney Morning Herald revealed this year, the US Department of Justice accused Bermuda-based Mr. Dwyer and the three founders of the BitMEX cryptocurrency exchange of deliberately and willfully infringing. money laundering laws, including knowingly accepting false passports from Iranian traders when the country was subject to US sanctions and dealing with customers in the US when it was not authorized to do so .

The four men face five years in prison if convicted. Mr Dwyer, who grew up in Gordon on Sydney’s North Shore and is a graduate of St Ignatius Riverview and the University of Sydney, has pleaded not guilty to call the charges. His co-defendants also pleaded not guilty.

Lawyers for Mr Dwyer said in a statement sent to The Age and Herald via the public relations firm he hired: “Greg Dwyer is innocent and the charges against him are unfounded. He is eager to mount a vigorous defense.

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Mr. Dwyer was BitMEX’s first employee and held senior positions at the company that found itself at the center of one of the world’s biggest cryptocurrency scandals. BitMEX has grown into a powerhouse in the industry within a few years, estimated at $ 3 billion ($ 4.15 billion) and handling transactions with a total end value of $ 986 billion per year. BitMEX’s success has created fame thanks to its enigmatic CEO and co-founder Arthur Hayes, who is one of the defendants.

Mr Dwyer’s arrival in the United States came long after his co-defendants showed up to face the charges. The Age and Herald revealed earlier this year that Mr Dwyer was battling an extradition request from the United States. He then accepted the request after a hearing before a Bermuda magistrate.

Mr. Dwyer’s bail agreement allows him to travel between New York courts and his residence in Bermuda. US court records show Mr Dwyer’s wife put up a US $ 1 million guarantee using money and property as part of the deal.

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