Russia sentences Hydra market founder to life in jail

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Russian authorities have sentenced Stanislav Moiseyev, the founding father of felony medicine platform Hydra, to life in jail after charging him with organizing a felony medicine enterprise.

Hydra operated out of Russia and Belarus between 2015 and 2018. In 2021, Chainalysis reported that the group processed nearly $3.2 billion value of crypto via varied “high-risk” crypto exchanges. Crystal Blockchain additionally discovered that $780 million was transacted between Binance and Hydra.

Footage of the sentencing shared by the Moscow Area Prosecutor’s Workplace.

Regulation enforcement reportedly seized a ton of medicine from the Hydra group. Moiseyev and his accomplices will reportedly be imprisoned in particular and strict regime penal colonies (overcrowded prisons which have been described because the harshest in Russia).

Hydra, which was seized and shut down by the US in 2022, was considered one of Garantex’s largest counterparties and despatched $60 million to the change between 2019 and 2021. Garantex founder Sergey Mendeleev launched a Tether desk final yr.

Hydra, alongside Binance and the Russian Ponzi scheme “The Finiko,” had been the highest three counterparties of Bitzlato, a crypto change that processed over $700 million value of illicit funds. Bitzlato’s founder pleaded responsible to working a bootleg money-transmitting enterprise a yr in the past.