The former BitMEX CEO surrendered in Hawaii and he was later released after paying a $10 million bond. Arthur Hayes surrendered to U.S. authorities in Hawaii on April 6 around six months after federal prosecutors first levied charges against him and three other BitMEX executives.
In an official statement, Hayes’ lawyers described the Singapore resident as:
“A self-made entrepreneur who has been wrongly accused of crimes that he did not commit. Mr. Hayes voluntarily appeared in court and looks forward to fighting these unwarranted charges.”
Hayes was released after posting a $10 million bail bond pending future proceedings expected to take place in New York. The lawyers proposed Hayes’ surrender in Hawaii in March. Discussions surrounded his possible release subject to the $10 million bail bond, a waiver of extradition mutually agreed upon by both parties, and his retention of a passport for travel between Singapore and the US.
The executive’s representation started talks with the US government after his indictment was unveiled in October 2021. Hayes, former BitMEX CTO Samuel Reed, and BitMEX co-owners Ben Delo and Greg Dwyer are accused of violating the Bank Secrecy Act.
They allegedly failed to maintain enough anti-money laundering safeguards and could not prevent American residents from accessing the crypto exchange despite the firm not being registered with the Commodity Futures Trading Commission (CFTC).
Reed was arrested in October 2021, while Delo surrendered to authorities in New York in March 2021. Both pleaded not guilty and were released on bond. Dwyer is still at large although his lawyers say that they have notified the United States government as to Dwyer’s whereabouts and his intention to fight all the charges leveled against him.