Former Chief Executive Officer of BitMex, Arthur Hayes, has proposed to surrender to authorities in Hawaii on 6th April 2021, according to a court filing. Hayes, who is wanted by the U.S. government, is currently in Singapore. He discussed appearing in New York court and surrendering in Hawaii on the following date, said Jessica Greenwood, assistant U.S. attorney in Manhattan. Reasons behind Former BitMEX CEO’s Suit The Bank Secrecy Act is U.S. legislation aimed to prevent criminals from using financial institutions to hide money. The founders and executives of BitMEX were charged last year with violations of the U.S. Secrecy Act. according to authorities, “by willfully failing to establish, implement, and maintain an adequate anti-money laundering program” on the exchange. “In so doing, they allegedly allowed BitMEX to operate as a platform in the shadows of the financial markets.” BitMEX is seen to maintain a distance from Hayes since the case was made public. After Hayes stepped down, the firm reshuffled Hayes executive ranks and appointed a new CEO. According to Tracker Skew, this costs BitMEX to lose its ranking in the top five cryptocurrency exchanges which once was the world’s largest exchange for cryptocurrency derivatives. New BitMEX CEO Appointment Alexander Höptner has been appointed CEO of 100x Group, the holding group for HDR Global Trading Limited, owner and operator of the BitMEX platform. 100x Group was created by the founders of HDR Global Trading, the company behind the cryptocurrency derivatives trading platform, BitMEX. Hayes, Gregory Dwyer, Benjamin Delo, and Samuel Reed were charged in New York, where federal prosecutors claimed the exchange served American customers while flouting U.S. banking laws. Hayes said BitMEX was incorporated in Seychelles because it could bribe authorities there for the cost of “just a coconut,” according to the indictment. Reed was arrested in Massachusetts last year.
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