RATE Group | BitFunder operator ordered to pay $155,500 restitution in security fraud case – Cryptocu…
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BitFunder operator ordered to pay $155,500 restitution in security fraud case – Cryptocu…

23 Oct BitFunder operator ordered to pay $155,500 restitution in security fraud case – Cryptocu…

Posted at 14:24h in Cryptocurrency News by

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Earlier in July this year, BitFunder and WeExchange operator Jon Montroll was sentenced to 14 months prison time. In 2013 a hacker stole 6,000 bitcoins from the exchange that valued around $775,000 at the time. However, CEO of the company Jon Montroll did not report the hack and tried to pay off the investors using his own money, which did not work.

Later Montroll shut down the exchange after users failed to withdraw their funds. The court found him guilty for securities fraud and obstruction of justice for which he was sentenced 14 months in prison. Montroll told SEC that he knew about the hack.

Today the court finalized the amount of fine that Montroll owed to exchange users. Court announced him to pay $ 15,572.53 along with the prison time. He would also be supervised for three years after his release.

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