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Bitcoin

A former cryptocurrency platform operator was charged by the Justice Department and the U.S. Securities and Exchange Commission Wednesday with fraud and making false statements after lying to regulators about a 2013 hack of his system that saw thieves abscond with bitcoins valued currently at over $60 million.

BitFunder founder Jon Montroll of Texas was charged by the SEC in the U.S. District Court for the Southern District of New York with operating an unregistered securities exchange that defrauded users by allegedly misappropriating bitcoins and failing to disclose the cyberattack that resulted in the theft of thousands of bitcoins in late summer 2013.

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Colby Hamilton

B. Colby Hamilton is a litigation reporter for the New York Law Journal and Law.com.

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