Florida programmer sentenced to 16 months for bitcoin exchange scheme

Security News ThreatsCybercrime Uncategorized

A Florida software engineer was sentenced to 16 months in prison on Friday after being found guilty of scheming to help an illegal bitcoin exchange avoid having banks and regulators look into its activities.

Yuri Lebedev was sentenced by U.S. District Judge Alison Nathan in Manhattan, according to Nicholas Biase, a spokesman for federal prosecutors.

The bitcoin exchange involved in the case, Coin.mx, was linked to an investigation of a data breach at JPMorgan Chase & Co, revealed in 2014, that exposed more than 83 million accounts.

“We are dismayed that Mr. Lebedev has been sentenced to prison,” Lebedev’s lawyer, Eric Creizman, said in an email. Federal sentencing guidelines called for up to 97 months.

Lebedev was convicted in March along with Trevon Gross, a New Jersey pastor.