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Russian authorities have sentenced Stanislav Moiseyev, the founder of criminal drugs platform Hydra, to life in prison after charging him with organizing a criminal drugs enterprise. Russia’s state-run news agency reported that Moiseyev was fined 4 million rubles (~$37,000) and sentenced alongside 15 other accomplices by a Moscow court. These accomplices were fined a total of 16 million rubles (~$150,000) and received prison sentences ranging from eight to 23 years.   Hydra operated out of Russia and Belarus between 2015 and 2018. In 2021, Chainalysis reported that the group processed almost $3.2 billion worth of crypto through various “high-risk” crypto exchanges. Crystal Blockchain also found that $780 million was transacted between Binance and Hydra . Footage of the sentencing shared by the Moscow Region Prosecutor’s Office. Law enforcement reportedly seized a ton of drugs from the Hydra organization. Moiseyev and his accomplices will reportedly be imprisoned i...

Today’s news that FTX co-founder Gary Wang has been sentenced to time served and supervised release for his role in the multi-billion dollar FTX fraud scheme means that only three of the five executives involved will serve any time in prison for their part in the theft. Wang pleaded guilty to four counts — wire fraud, conspiracy to commit wire fraud, conspiracy to commit commodities fraud, and conspiracy to commit securities fraud — and was sentenced on Wednesday to time served and three years of supervised release on each. The longest sentence was reserved for the mastermind of the theft, FTX founder and majority owner of Alameda Research Sam Bankman-Fried. He was sentenced to 25 years in prison. The second-longest sentence was handed to FTX Digital Markets Chief Executive Ryan Salame, who was sentenced to seven and a half years for his role in using customer funds for influence-purchasing political donations.  Read more: FTX sues Binance and CZ ...