Maximiliano Pilipis allegedly operated AurumXchange illegally and collected over 10,000 BTC in fees.
He stopped operating the platform in 2013 and attempted to conceal the proceeds by laundering them.
The anonymous mask worn by the world wide hacker group anonymous who operate the darkweb
The US Department of Justice has charged Maximiliano Pilipis with alleged offences related to operating an unlicensed cryptocurrency exchange and laundering proceeds from Silk Road, a now-closed anonymous dark web marketplace.
Charged with Money Laundering and Tax Evasion
Announced yesterday (Monday), the 53-year-old faces five counts of money laundering and two counts of willfully failing to file a tax return. If convicted, he could face up to 10 years in prison and a fine of up to $250,000.
Pilipis operated AurumXchange between 2009 and 2013 without a licence, allowing individuals to exchange Bitcoin and other cryptocurrencies for US dollars. The platform conducted over 100,000 transactions, leading to the transfer of $30 million in funds. According to court documents, a portion of these funds originated from Silk Road, which was known for illegal activities, including drug sales.
In November 2021, US law enforcement seized over 50,676 Bitcoins linked to Silk Road, valued at around $3.4 billion at the time. US authorities shut down Silk Road in 2013, and its creator, Ross Ulbricht, was convicted in 2015. Ulbricht received a life sentence for facilitating illegal drug sales, and his appeal was rejected in 2017.
Collected Significant Fees
While Silk Road was forcibly closed, Pilipis ceased operating his Bitcoin exchange the same year. Prosecutors claim AurumXchange and Pilipis collected over 10,000 Bitcoin, worth approximately $1.2 million at the time, in transaction fees. The current market value of 10,000 Bitcoins exceeds $709.2 million.
The allegations state that Pilipis attempted to hide his gains by splitting the Bitcoins, transferring them, and laundering them, though he began converting them into US dollars around 2018. He also used the crypto proceeds to purchase multiple real estate properties.
Zachary Myers, US Attorney for the Southern District of Indiana
Although he allegedly realised “hundreds of thousands of dollars” in income from his cryptocurrency holdings in 2019 and 2020, he did not file any income tax returns, which is required by law.
“Together with our partners in federal law enforcement,” said Zachary Myers, US Attorney for the Southern District of Indiana, “we will continue to work to investigate and prosecute offenders who exploit digital assets to fuel drug trafficking and other offences, and those who unlawfully facilitate the transfer and laundering of crime proceeds.”
The US Department of Justice has charged Maximiliano Pilipis with alleged offences related to operating an unlicensed cryptocurrency exchange and laundering proceeds from Silk Road, a now-closed anonymous dark web marketplace.
Charged with Money Laundering and Tax Evasion
Announced yesterday (Monday), the 53-year-old faces five counts of money laundering and two counts of willfully failing to file a tax return. If convicted, he could face up to 10 years in prison and a fine of up to $250,000.
Pilipis operated AurumXchange between 2009 and 2013 without a licence, allowing individuals to exchange Bitcoin and other cryptocurrencies for US dollars. The platform conducted over 100,000 transactions, leading to the transfer of $30 million in funds. According to court documents, a portion of these funds originated from Silk Road, which was known for illegal activities, including drug sales.
In November 2021, US law enforcement seized over 50,676 Bitcoins linked to Silk Road, valued at around $3.4 billion at the time. US authorities shut down Silk Road in 2013, and its creator, Ross Ulbricht, was convicted in 2015. Ulbricht received a life sentence for facilitating illegal drug sales, and his appeal was rejected in 2017.
Collected Significant Fees
While Silk Road was forcibly closed, Pilipis ceased operating his Bitcoin exchange the same year. Prosecutors claim AurumXchange and Pilipis collected over 10,000 Bitcoin, worth approximately $1.2 million at the time, in transaction fees. The current market value of 10,000 Bitcoins exceeds $709.2 million.
The allegations state that Pilipis attempted to hide his gains by splitting the Bitcoins, transferring them, and laundering them, though he began converting them into US dollars around 2018. He also used the crypto proceeds to purchase multiple real estate properties.
Zachary Myers, US Attorney for the Southern District of Indiana
Although he allegedly realised “hundreds of thousands of dollars” in income from his cryptocurrency holdings in 2019 and 2020, he did not file any income tax returns, which is required by law.
“Together with our partners in federal law enforcement,” said Zachary Myers, US Attorney for the Southern District of Indiana, “we will continue to work to investigate and prosecute offenders who exploit digital assets to fuel drug trafficking and other offences, and those who unlawfully facilitate the transfer and laundering of crime proceeds.”
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
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Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
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Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
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We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
