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Yuri Lebedev, an immigrant from Ukraine, was sentenced to 16 months of jail for his role in a Bitcoin scam that used an illegal Bitcoin exchange, Coin. No matter how smart or lucky a criminal is, they usually end up facing the long arm of the law. The latest perpetrator to face justice is Yuri Lebedev, a Florida programmer who had emigrated to the US from Ukraine as an exchange student when he was 16. He’s also the tech guru behind Coin. Bitcoin exchange that authorities say laundered money for a global hacking network.
The court found that Yuri Lebedev did not actually launder any funds himself or be personally involved in any hacking, but he was found guilty of setting up and maintaining the illegal exchange. The cryptocurrency they received for their attacks was then laundered through the Coin. However, he is lucky in that he did not get the full ten years that he was facing. It’s a sad twist as Yuri Lebedev had done a lot to improve his lot in life.