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A CoinDeal executive charged with fraud and money laundering in connection with a $45 million crypto scheme

A former executive at CoinDeal Source: AML UAE

A former executive at CoinDeal, a cryptocurrency exchange, has been indicted on charges of fraud and money laundering. The executive, identified as Dawid Urbaniak, is accused of stealing over $45 million from the exchange’s customers.

Urbaniak is alleged to have used his position at CoinDeal to gain access to customer accounts and then withdraw their funds. He is also accused of using the exchange’s platform to launder the stolen funds.

The indictment alleges that Urbaniak’s fraud scheme began in 2018 and continued until his arrest in 2022. During that time, he is accused of stealing over $45 million from over 1,000 customers.

Urbaniak has been charged with wire fraud, money laundering, and aggravated identity theft. If convicted, he faces a maximum sentence of 20 years in prison.

The indictment of Urbaniak is a significant development in the fight against cryptocurrency fraud. It is the first time that a former executive of a major cryptocurrency exchange has been charged with fraud. The indictment sends a message to other cryptocurrency exchanges that they will be held accountable for the actions of their employees.

The indictment also highlights the risks of cryptocurrency fraud. Cryptocurrency exchanges are often targets for fraudsters because they hold large amounts of cryptocurrency. Investors should be aware of the risks of cryptocurrency fraud and take steps to protect their investments.


Sophia Hernandez is an experienced crypto writer who has been writing about crypto and blockchain technology for 3 years. She has a deep understanding of the complexities of the crypto market and is skilled at breaking down these concepts into easy-to-understand language for readers.