A huge collection of 3400+ free website templates JAR theme com WP themes and more at the biggest community-driven free web design site
Home / Bitcoin / ‘Criminal mastermind’ of $4bn bitcoin laundering scheme arrested | Technology

‘Criminal mastermind’ of $4bn bitcoin laundering scheme arrested | Technology

[ad_1]

The Russian “internationally sought ‘mastermind’ of a crime organisation” accused of laundering more than $4bn in bitcoin, including funds obtained from the hack of failed bitcoin exchange Mt Gox, has been arrested in Greece.

A US jury indicted Alexander Vinnik on Wednesday after his arrest in a small beachside village in northern Greece on Tuesday, following an investigation led by the US justice department along with several other federal agencies and task forces.

Vinnik was described by the justice department as the operator of BTC-e, an exchange used to trade the digital currency bitcoin since 2011, which was allegedly used to launder more than $4bn for people involved in crimes ranging from computer hacking to drug trafficking.

US authorities also linked him to the failure of Mt Gox, the Japan-based bitcoin exchange that collapsed in 2014 after being hacked. Vinnik “obtained” funds from the hack of Mt Gox and laundered them through BTC-e and Tradehill, another San Francisco-based exchange he owned, they said in the statement.

“Just as new computer technologies continue to change the way we engage each other and experience the world, so too will criminals subvert these new technologies to serve their own nefarious purposes,” said Brian Stretch, US attorney for the Northern District of California.

Vinnik’s arrest is the latest in a series of US operations against Russian cybercriminals in Europe, including the taking down of two of the biggest dark web marketplaces for drugs, guns and other illicit items, AlphaBay and Hansa, last week.

The prosecutions also coincide with intensified scrutiny of Russian hackers after US intelligence officials determined that Russia interfered in the 2016 US presidential election using cyber-warfare methods to help Donald Trump, something Moscow denies.

During his time in the digital currency market, US authorities allege Vinnik facilitated crimes including hacking, fraud, identity theft, tax refund fraud, public corruption and drug trafficking. Greek police described Vinnik as a “an internationally sought ‘mastermind’ of a crime organisation”.

BTC-e, which has been out of service for more than a day, attributed this to “unplanned maintenance”. In a tweet on Wednesday after the arrest of Vinnik, BTC-e said it would restore service in the next five to 10 days.

The exchange is one of the oldest virtual currency platforms. It allows users to trade bitcoin pseudonymously against a variety of fiat and virtual currencies, and is known in cryptocurrency markets as having relaxed standards for checking users’ identity, and for not collaborating with law enforcement.

Original Source



[ad_2]
Source link

About Sora

Check Also

KIT TOKEN; A PROFIT SHARING SYSTEM LIKE NO OTHER

The main purpose of any business project today is to make profit, so they do …

7 comments

  1. Fortnite: Battle Royale map comparability.

  2. Keep an eye on the Fortnite store for new items.

  3. Launch your Fortnite Battle Royale Recreation.

  4. Launch your Fortnite Battle Royale Sport.

  5. I like the helpful info you provide in your articles. I will bookmark your weblog and check again here regularly.

  6. Having read this I believed iit was rather enlightening.
    I appreciate you taking the time and effort to put this article together.
    I once again find myself spending a lot off time bot reading and
    commenting. But so what, it was still worth it! http://Www.Ugeltacna.gob.pe/foro/index.php?topic=156885.0

  7. Superb site you have here but I was wanting to know
    if you knew of any user discussion forums that cover the same topics discussed here?
    I’d really like to be a part of community where I can get comments from other experienced
    people that share the same interest. If you have any recommendations, please let me know.
    Kudos!

Leave a Reply

Your email address will not be published. Required fields are marked *