Cryptocurrencies

Trader Gets 15 Months for Cryptocurrency Fraud

Bitcoin May Split 50 Times in 2018 as Forking Craze Accelerates — Photographer: Akos Stiller/Bloomberg

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By Janan Hanna

November 13, 2018 at 5:13 PM UTC

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A trader was sentenced to 15 months in prison for misappropriating $1.1 million in Bitcoin and Litecoin. Prosecutors say Joseph Kim stole $600,000 in the cryptocurrency from his firm, Consolidated Trading LLC, to cover personal losses trading crypto futures on foreign exchanges. They called it the first criminal prosecution in Chicago involving crypto trading.