The Social Capital Markets, a global initiative focused on fostering a just and sustainable economy, has recently published a revealing report on crypto crimes. The findings indicate a staggering 267% increase in global crypto-related convictions over the past five years. In the U.S., over 10% of those convicted received sentences exceeding 20 years, with top cases averaging over 20 years and an overall average sentence of 8 years. The data indicates that the most common crimes in the crypto space are money laundering, fraud, and narcotics trafficking.
The report also lists several prominent crypto figures who have been imprisoned for the longest periods of time in the past decade. Here are their names:
Ross Ulbricht was born in 1984 in Austin, Texas, and founded the Silk Road in 2013, a notorious dark web marketplace that facilitated illegal activities such as drug trafficking through Bitcoin transactions. During the investigation, the FBI seized 144,336 Bitcoin from a shared digital wallet on his laptop, selling them through a series of auctions that generated approximately $48.2 million.
In 2015, Ulbricht was convicted of several crimes, including money laundering, computer hacking, and narcotics trafficking. He is currently serving a double life sentence (50 years) plus an additional 40 years, totaling 1080 months, without the possibility of parole.
Many crypto enthusiasts have advocated for his release, including former U.S. President and Republican presidential candidate Donald Trump, who promised during the Bitcoin conference earlier this year that he would commute his sentence if elected again.
Roger Thomas Clark was a senior advisor to the Silk Road who played a significant role in facilitating its narcotics trafficking operations. Convicted in 2023, Clark was sentenced to 20 years in prison for his involvement in the illicit activities surrounding the dark web marketplace.
Karl Sebastian Greenwood was the co-founder of OneCoin and mastermind of the largest Ponzi schemes in cryptocurrency history. In 2014, Greenwood solicited investments from hundreds of individuals for a fraudulent cryptocurrency scheme, leading to significant financial losses for many. In 2023, he was sentenced to 20 years in prison for his actions.
Mark Scott was linked to the OneCoin fraud and played a crucial role in laundering the proceeds as a lawyer. He established a network of shell companies and funneled money into offshore accounts to conceal over $400 million in stolen funds. In 2024, Scott was convicted of money laundering and received a 10-year prison sentence for his involvement in the scheme.