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News Link • Hacking, Cyber Security

FBI Arrests Exchange Operator for Lying About 6000 Bitcoin Hack

•, Avi Mizrahi

The FBI announced on Wednesday that Jon E. Montroll (aka Ukyo) was taken into federal custody for giving false sworn testimony and false documentation to the Securities Exchange Commission (SEC). He operated two bitcoin services, Weexchange which functioned as a bitcoin depository and currency exchange service, and Bitfunder which facilitated the purchase and trading of shares of businesses that listed on the platform.

During the summer of 2013, hackers stole approximately 6,000 bitcoins from Weexchange, and, as a result, the two ventures lacked the bitcoin necessary to cover what was owed users. Montroll allegedly lied to both investors and investigators in an effort to hide this.

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