“Doctor Bitcoin” Went To Jail For The P2P Exchange Of Bitcoins
- Famous crypto businessman Mark Hopkins went to jail for 15 months
- He was punished for privately exchanging (P2P) fiat for bitcoin
- Out of ignorance, he transferred the crypt to the participants of the scam
Crypto entrepreneur Mark Hopkins (alias “Dr. Bitcoin” or “Rizzn”) is leaving to serve his sentence in federal prison. He was given a 15-month sentence for engaging in peer-to-peer (P2P) sales of crypto without a federal license.
The case has been pending since 2019. At the time, Hopkins unknowingly exchanged fiat for BTC for a user who was involved in lottery scams. This made him the focus of the FBI and FinCEN. The man was accused of illegally running a “money transfer business “.
In October 2020, 15 armed FBI agents broke into Doctor Bitcoin’s home. They interrogated members of his family and confiscated $60,000 worth of equipment. Then there was the stage of litigation. As a result, Hopkins pleaded guilty to using an illegal cash-to-cryptocurrency exchange scheme.
Doctor Bitcoin began serving his 15-month sentence on September 6 at the Beaumont Low Federal Correctional Institution.