TechFlow news, on October 29, according to Cointelegraph, the U.S. Department of Justice accused Maximiliano Pilipis, operator of cryptocurrency exchange AurumXchange, of money laundering on October 28, 2024. It is reported that during its operation, the exchange processed over 100,000 transactions totaling more than $30 million, with some funds originating from the darknet marketplace "Silk Road."
The investigation revealed that Pilipis operated the exchange without a license between 2009 and 2013, collecting approximately 12,000 bitcoins (worth about $1.2 million at the time) in transaction fees. The Department of Justice stated he failed to register with the U.S. Department of the Treasury and did not implement KYC procedures, violating anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
In addition, Pilipis is also charged with dispersing and transferring assets such as bitcoin after closing the exchange to conceal the proceeds of crime, converting cryptocurrencies into U.S. dollars to invest in real estate in Indiana. He faces additional charges for failing to report income in 2019 and 2020. If convicted, he could face up to 10 years in prison and a fine of $250,000.
