A Florida software engineer was sentenced to 16 months in prison for helping run an illegal Bitcoin exchange suspected of laundering money for a group of hackers who targeted financial and publishing firms including JPMorgan Chase & Co. and Dow Jones & Co.
Yuri Lebedev, 39, helped operate Coin.mx, which tricked banks into processing bitcoin transactions by disguising them as restaurant-delivery charges and online purchases of collectible items. He was convicted in March of conspiracy and fraud following a month-long trial in Manhattan.
Lebedev, wearing a black suit, stood before sentencing to tell the judge he regretted his actions. He said he joined Coin.mx to create "cutting edge technology" and build something "that would make me exceptional."
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