Bitcoin exchange boss to serve jail term for facilitating ransomware transactions

Pappi Hex
 A Florida ex-school board member, Michael Murgio has pled guilty to making a false statement in relation to running an illegal Bitcoin exchange service.

 According to the FBI, Michael Murgio along side his son Anthony Murgio with another person named Yuri Lebedev ran as an unlicensed currency exchange. The trio used the service to hide transactions that includes facilitating ransomware payouts as "collectible memorabilia".

Also Read: Hackers exploits coding error, steals $31 Million worth of Ethereum was run by an Israeli named Gary Shalon, a man that was linked to a massive hacking operation that compromised personal data of over a 100 million people including the likes of JP Morgan. 

Sun-sentinel says that Michael Murgio admitted to making false statement to the national Credit Union Administration following a plea.

 The Dept. of justice says the two (father and son) paid $150,000 to gain board of directors seats on the Hope Credit Union. Hope was used to facilitate transactions in Oct. 2015 prior to its liquidation.

 Michael Murgio is likely to face 16 months in a US federal prison.

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