Marcus Hutchins, the security researcher known as MalwareTech, has pleaded not guilty to today in a Las Vegas court to charges of creating and updating the Kronos banking trojan, according to his lawyer Adrian Marie Lobo.

The judge also approved to release the 22-year-old on bail for a bond of $30,000. The prosecution wanted the judge to deny bail to MalwareTech because he shot a gun without a license in a tourist gun range. The researcher's attorney called the prosecution's approach as "garbage."

In spite of the favorable ruling, MalwareTech will spend the weekend in a Las Vegas jail because his legal team couldn't raise the money and get a check to the court clerk's office in due time. MalwareTech's court hearing was scheduled at 3:00 PM and the court clerk office closed at 4:00 PM.

MalwareTech prohibited from going online, contacting co-defendant

When released on bail, MalwareTech is prohibited from accessing the Internet, must wear a GPS tracker, and must not contact the unnamed co-defendant mentioned in the FBI's indictment.

The researcher is scheduled to appear in a Wisconsin court on Tuesday.

Researcher shocked by charges

Speaking to reporters outside the court, Lobo said MalwareTech was "completely shocked" when he first heard about the FBI's charges.

The researcher gained international fame after his quick actions helped stop the WannaCry ransomware outbreak.

MalwareTech is an employee of US-based cyber-security firm Kryptos Logic and had just attended the Black Hat and DEF CON security conferences before he was arrested on Wednesday, August 2.

A video of Lobo's statements can be viewed here, courtesy of News3LV reporter Christy Wilcox.