Australian crypto mogul battles extradition to US

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Australian bitcoin tycoon Greg Dwyer fights extradition to the United States from his home in Bermuda, even after his co-defendants in one of the world’s biggest cryptocurrency scandals presented themselves to US authorities .

Earlier this month, Mr Dwyer appeared in trial court in Hamilton, the capital of Bermuda, on July 1, according to the local newspaper, The Royal Gazette.

Greg Dwyer and Arthur HayesCredit: Mark Stehle, Business Insider

The Age and The Sydney Morning Herald revealed in February that Mr Dwyer, a 37-year-old math genius from the Sydney suburb of Gordon and a graduate of prestigious St Ignatius College, Riverview was at the center of the biggest cryptocurrency scandal. in the world. .

Mr. Dwyer was the first employee of BitMEX, an exchange that exploded into the cryptocurrency scene about five years ago and has quickly grown into one of the biggest players in the industry. BitMEX is estimated at US $ 3 billion and handles transactions with a total end value of US $ 986 billion per year. Mr. Dwyer has worked to grow the company alongside its three founders, including top CEO and founder Arthur Hayes.

The US Department of Justice has accused Mr Dwyer, Mr Hayes and the group’s two other Bermuda-based founders, Sam Reed and Ben Delo, of knowingly and willfully breaking money laundering laws, including by knowingly accepting false passports from Iranian traders and authorizing the crime. gangs to launder money through its platform. The four men face five years in prison if convicted.

The extradition hearing came after the U.S. District Court for the Southern District of New York requested that Mr. Dwyer, who has spent at least the last three years in the Caribbean country, be extradited to face the charges .

Mr Dwyers Bermudan’s attorney, Jerome Lynch, told the court his client chose to hold an extradition hearing, according to The Royal Gazette. The case will return to court on August 25 and in the meantime Mr Dwyer, who lives in the parish of Warwick on the island, has been released on $ 20,000 bail and returned his passport.

Sydney man Greg Dwyer leads an idyllic life in Bermuda. Credit: Hidefumi Nogami

Mr. Dwyer is within his legal right to request a hearing rather than acquiescing to the demand of the US courts. His co-defendants did not request extradition hearings before agreeing to surrender to US authorities.

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