Illegal Bitcoin Exchange Operator Admits To JPMorgan Hack

Bitcoin Exchange Hack

Anthony Murgio, the alleged operator of an illicit bitcoin exchange called, pled guilty on charges of conspiring to use the scheme to hack companies, including JPMorgan Chase.

Murgio’s plea was entered in federal court in Manhattan, where he face charges on three counts, including conspiracy to commit bank fraud and operate an illegal money transmitting business.

Reuters reported that, under the plea agreement, Murgio will not appeal any sentence in prison of twelve-and-a-half years or less. His sentencing is scheduled for June 16. The media outlet confirmed that Murgio is just one of nine suspects that will face charges as a result of the investigation into the JPMorgan hack, which was disclosed by the company in 2014 and compromised nearly 83 million accounts.

According to prosecutors, exchanged millions of dollars into bitcoin, including for ransomware victims, without having the proper licensing in place.

Murgio’s guilty plea comes just a month before he was set to face trial.

Last year, indictment documents concerning the case were unsealed and divulged that the suspects behind the hacks of financial services players, including JPMorgan, E*TRADE Financial, Scottrade Financial Services and Dow Jones, were involved in illegally intercepting information about stock prices linked to an illegal online gambling ring and had a connection to bitcoin.

In November, Ricardo Hill, who was arrested in Florida a month prior, was also charged with conspiring to operate an unlicensed money transmitting firm. Hill was the finance support manager and a business development consultant for, operated by Murgio and owned by Gery Shalon, the Israeli accused of being behind the JPMorgan hack and that of other companies.

Two other individuals linked to are scheduled to face trial on Feb. 6, Reuters confirmed.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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