BitMEX executives step back after U.S. criminal charges

Top executives of world’s largest cryptocurrency exchanges BitMEX have decided to step back from their roles, following criminal charges filed against them by U.S. prosecutors a week earlier, the firm said on Thursday.

The company stated that it would “vigorously” fight the allegations after the U.S Department of Justice charged the firm’s three founders, Arthur Hayes, Samuel Reed, and Benjamin Delo with violating the federal Bank Secrecy Act. Gregory Dwyer, its first employee, was also charged.

BitMEX said Hayes and Reed have “stepped back from all executive management responsibilities for their respective CEO and CTO roles with immediate effect,” adding they and Delo would not hold executive positions and that Dwyer would take a leave of absence from his role as head of business development.

The statement said the management changes had been made with the “full approval” of the founders.

Hayes and Delo were not immediately available for requests for comment. Meanwhile, Dwyer’s lawyer, Sean Hecker, who earlier said his client would contest the charges, did not immediately respond to an emailed request for comment.

BitMEX is one of the world’s largest Bitcoin futures trading platforms, popular for its high liquidity and compliance requirements.