The employee of the Bitcoin exchange, which was shut down after being the victim of cyber theft, was arrested for lying to the regulatory authorities about the incident in which $ 70 million worth of crypto money was stolen
Jon Montroll, the founder of the BitFunder cryptocurrency exchange, He was found guilty of operating an unregistered exchange, defrauding users and lying to regulators. He wanted to get away.”
Montroll was operating the Bitcoin exchange WeExchange Australia, while at the same time managing another exchange called BitFunder. BitFunder allowed him to invest in companies in exchange for Bitcoin. It was stated that Montroll, indirectly responsible for the cyber theft, used his own wealth to replace the stolen Bitcoins, but this was not enough.
BitFunder had to close in 2013.
6,000 Bitcoin was worth around $775,000. Today, it’s worth just over $70 million.