The biggest scandal to shake the crypto-currency world became a criminal matter on Dec. 12 when Sam Bankman-Fried, founder of the crypto exchange FTX, was arrested in the Bahamas and charged by the Department of Justice with eight criminal counts, including lying to investors, wire fraud on lenders and customers, and conspiring to violate campaign finance laws.

The Securities and Exchange Commission also filed civil charges alleging that he misled investors while defrauding customers from the company’s inception, transferring customer deposits to his trading firm, Alameda. When a rush on withdrawals revealed an $8 billion shortfall, FTX declared bankruptcy. A hearing to extradite Bankman-Fried from the Bahamas is scheduled for February.