According to a report revealed by the U.S. Department of Justice, formal charges against Alexander Vinnik are waiting for him on American soil. It seems Vinnik has many money laundering related charges against him and the exchange he allegedly operated — the long standing bitcoin exchange called BTC-e.
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The U.S. Department of Justice (DOJ) believes the Russian native, Alexander Vinnik, and the exchange BTC-e laundered billions of dollars worth of bitcoin since 2011. The indictment details that “BTC-e was an exchange used for criminals worldwide” and Vinnik used this tool to liquidate bitcoin into U.S. dollars, Rubles, and Euros.
Vinnik was arrested on July 26, and according to DOJ the exchange operator allowed money from ransomware funnel through BTC-e, as well as hacking incidents, tax fraud, and drug trafficking money.
“BTC-e was an international money-laundering scheme that, by virtue of its business model, catered to criminals — and to cyber criminals in particular,” explains the DOJ’s charges. Through Vinnik’s efforts, BTC-e emerged as one of the principal means by which cyber criminals around the world laundered the proceeds of their illicit activity.”The indictment describes Alexander Vinnik, 37, a Russian citizen, as the owner a...