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$4.5 Million Crypto Theft Lands Delphi Digital's Former Finance Exec Behind Bars

Key Takeaways

  • Former Delphi Digital Vice President gets 48 months for stealing $4.5M, with $4.6M repayment and supervised release;
  • Meissner admitted guilt and claimed substance issues, but prosecutors called his actions deliberate;
  • The theft involved fake financial records and misuse of a $170K Ethereum loan from Delphi Digital.
$4.5 Million Crypto Theft Lands Delphi Digital's Former Finance Exec Behind Bars

On December 17, a federal judge in Connecticut, Michael P. Shea, sentenced Dylan Meissner, a former finance vice president of Delphi Digital, to 48 months in prison for stealing nearly $4.5 million from the cryptocurrency research company.

Although the Justice Department referred to the victim as “Company A”, court documents made by Meissner’s lawyer confirm that Delphi Digital was the company involved.

Meissner's sentence was less than the six to eight years prosecutors recommended but slightly below his lawyer’s suggestion.

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The court included two years of supervised release after prison and ordered Meissner to repay more than $4.6 million to cover the stolen funds and an unpaid loan.

In January 2022, Delphi lent Meissner 50 Ethereum ETH $3,442.14 , worth around $170,000 at the time, to help with personal investment losses. Instead of paying it back, he began stealing from the company, taking nearly $4.5 million over several months.

Meissner altered financial records to cover up the missing money. His actions continued until he was fired in November 2022.

In July 2024, Meissner pleaded guilty to wire fraud as part of a deal with prosecutors. He was released on a $100,000 bond but will begin serving his sentence in February 2025.

During sentencing, Meissner’s lawyer asked the court to consider his history of substance abuse and his efforts to stay sober. They also noted that Meissner admitted to his wrongdoing and helped the company by detailing the financial damage he caused. However, prosecutors argued that his actions were intentional and calculated.

Another crypto-related legal case happened on December 12. Frank Richard Ahlgren III, an early Bitcoin BTC $94,726.67 investor, was sentenced to two years in prison. What did Ahlgren get involved with? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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