Trader Charged With Stealing $2 Million in Cryptocurrencies
- U.S. says Kim stole Bitcoin to cover his trading losses
- Trader scheduled to appear in U.S. Court in Chicago on Friday
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A Chicago trader working for Consolidated Trading LLC faces charges he stole $2 million in cryptocurrencies from his firm to cover his losses and then lied about it to cover gambling debts.
Joseph Kim, 24, was charged with one count of wire fraud on Thursday in the first criminal prosecution involving the cryptocurrency trading industry to be brought by John Lausch, the U.S. Attorney for Chicago. Kim is scheduled to appear in federal court in Chicago on Friday.