The cryptocurrency industry, while revolutionary, has seen its share of legal troubles, with a 267% surge in global crypto-related convictions over the past five years.
From Ponzi schemes to massive frauds, several prominent figures are currently serving time for their roles in illicit activities. Below is a detailed look at nine key individuals currently incarcerated for crypto-related crimes, ordered by the length of their sentences, as of July 15, 2025.
Note that the list does not reach ten due to limited confirmed cases of ongoing imprisonment, as some individuals have completed sentences, are out on bail, or are awaiting extradition.
1. Ross Ulbricht – Silk Road’s Infamous Founder
- Crime: Ross Ulbricht created the Silk Road, a dark web marketplace that facilitated illegal drug trafficking and other activities using Bitcoin. He was convicted of money laundering, computer hacking, and narcotics trafficking.
- Sentence: Double life sentence plus 40 years (1080 months), without parole, handed down in 2015.
- Current Status: Serving at USP Tucson, Arizona.
- Impact: Ulbricht’s platform was a pioneer in using Bitcoin for illicit transactions, making his case a landmark in crypto’s early history. His harsh sentence remains a point of debate among advocates for sentencing reform.
2. Sam Bankman-Fried – FTX’s Fallen Star
- Crime: As former CEO of FTX, Sam Bankman-Fried (SBF) was convicted on seven counts of fraud, conspiracy, and money laundering for misappropriating $10 billion in customer funds, leading to FTX’s 2022 collapse.
- Sentence: 25 years, with $11 billion in forfeiture, sentenced on March 28, 2024.
- Current Status: Incarcerated at the Metropolitan Detention Center in Brooklyn, New York, with a potential transfer to a medium-security prison near San Francisco.
- Impact: SBF’s case is one of the largest financial frauds in history, shaking trust in centralized crypto exchanges. He is appealing his conviction, a process that could take years.
3. Karl Sebastian Greenwood – OneCoin’s Ponzi Mastermind
- Crime: Co-founder of OneCoin, Greenwood orchestrated a $4 billion Ponzi scheme, defrauding investors with a fake cryptocurrency.
- Sentence: 20 years, sentenced in 2023.
- Current Status: Serving in a U.S. federal prison.
- Impact: Often compared to Bernie Madoff’s fraud, OneCoin targeted thousands globally, exploiting crypto’s hype to lure victims with false promises.
4. Juan Tacuri – Forcount’s Fraudulent Promoter
- Crime: A senior promoter of the Forcount (Weltsys) Ponzi scheme, Tacuri targeted Spanish-speaking communities, defrauding investors worldwide.
- Sentence: 20 years, sentenced on October 15, 2024, with $3.6 million in forfeiture and restitution.
- Current Status: Serving in a U.S. federal prison.
- Impact: Tacuri’s lavish spending on luxury goods and real estate highlighted the personal enrichment common in such schemes.
5. Mark Scott – OneCoin’s Money Launderer
- Crime: A lawyer linked to OneCoin, Scott was convicted of laundering $400 million in stolen funds through shell companies and offshore accounts.
- Sentence: 10 years, sentenced in 2024.
- Current Status: Incarcerated in a U.S. federal prison.
- Impact: Scott’s legal expertise enabled OneCoin’s massive fraud, underscoring the role of professional enablers in crypto crimes.
6. David Carmona – IcomTech’s Deceptive Founder
- Crime: Founder of IcomTech, Carmona ran a crypto Ponzi scheme that promised high returns but used victim funds to pay others and enrich promoters.
- Sentence: 10 years, sentenced in 2024.
- Current Status: Incarcerated at the Federal Correctional Institution in Ashland, Kentucky, since December 2024.
- Impact: IcomTech’s collapse left many investors financially devastated, highlighting the risks of unregulated crypto ventures.
7. David Brend – IcomTech’s Co-Conspirator
- Crime: A promoter of IcomTech, Brend was convicted for his role in defrauding investors alongside Carmona.
- Sentence: 10 years, sentenced in 2024.
- Current Status: Serving at the Federal Prison Camp in Pensacola, Florida, since December 16, 2024.
- Impact: Brend’s involvement amplified IcomTech’s reach, luring victims with false promises of crypto wealth.
8. Randall Crater – My Big Coin’s False Promises
- Crime: Founder of My Big Coin, Crater was convicted of wire fraud for a fraudulent P2P platform that defrauded investors of $6 million by falsely claiming gold backing and major financial partnerships.
- Sentence: Over 8 years (100 months), sentenced prior to 2024.
- Current Status: Serving in a U.S. federal prison.
- Impact: Crater’s scheme preyed on early crypto enthusiasm, misleading investors with fabricated credentials.
9. Shaun Bridges – Silk Road’s Corrupt Agent
- Crime: A former U.S. Secret Service agent, Bridges diverted $800,000 in Bitcoin to his personal account during the Silk Road investigation and engaged in additional money laundering.
- Sentence: Nearly 8 years (95 months), sentenced in 2015.
- Current Status: Likely still incarcerated, as his sentence extends into 2025, assuming no early release.
- Impact: Bridges’ betrayal of trust during the Silk Road probe highlighted vulnerabilities in law enforcement’s handling of crypto assets.
Context and Trends
The cryptocurrency industry’s rapid growth has drawn intense regulatory scrutiny, leading to harsher penalties compared to traditional finance, possibly as a deterrent in a nascent sector. However, sentencing disparities—such as Ulbricht’s life sentence versus Zhao’s brief term (4 months, likely completed by October 2024)—raise questions about fairness. Other figures, like Ilya Lichtenstein (Bitfinex hack, 5 years) and Heather Morgan (18 months, reporting January 2025), are not currently incarcerated, while individuals like Do Kwon remain detained pending extradition.