AML Bitcoin Founder Sentenced to 7 Years for Fraud and Money Laundering

Key Points

1. Andrade and his company misled investors between 2014 and 2019, raising nearly $10 million through false promises.

2. Prosecutors revealed Andrade faked a partnership with the Panama Canal Authority to boost investor confidence in AML Bitcoin.

3. Andrade's prison sentence begins on October 31, 2025, followed by three years of supervised release, with a restitution hearing set for September 16, 2025.

4. Crypto investors lost over $2.2 billion to hacks, scams, and breaches in the first half of 2025, with wallet breaches accounting for $1.7 billion of the losses.

5. Two major incidents, Bybit’s $1.5 billion hack and Cetus Protocol’s $225 million exploit, significantly contributed to the year's losses.