Bitcoin trader Charlie Shrem sentenced to two years in prison

  • Bitcoin millionaire Charlie Shrem, who has been accused of helping people exchange cash for bitcoin on the Silk Road marketplace, has been sentenced to two years in prison, media reports said. The bitcoin trader was arrested for trading $1 m for bitcoin used on the site. He will also have to forfeit $950,000 to the U.S. government.

    Judge Jed Rakoff rejected the defense's plea for probation. In addition to the prison sentence, Shrem will also have to serve three years of supervised release.