Russian Crypto Trader Pleads Guilty to $9B Laundering Scheme Involving Bitcoin (BTC) in US
Release: 2024/05/04 20:33 Reading: 451
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Russian national Alexander Vinnik has confessed to his involvement in a crypto money laundering scheme via BTC-e.
U.S. prosecutors have revealed that BTC-e facilitated over $9 billion in transactions and catered to over 1 million users globally.
Vinnik is now facing a potential 20-year prison sentence at his upcoming sentencing in the U.S.
Alexander Vinnik, a Russian national, has admitted to participating in a crypto-related money laundering scheme. The case highlights the U.S. government’s intensifying efforts to combat cryptocurrency-related fraud.
Vinnik’s Involvement with BTC-e
Alexander Vinnik has admitted his involvement with BTC-e, one of the largest Bitcoin exchanges active from 2011 to 2017. According to a statement from the U.S. Attorney’s office in San Francisco, Vinnik was among the operators of BTC-e until law enforcement intervened, closing the exchange and arresting him. Prosecutors revealed that BTC-e facilitated over $9 billion in transactions and catered to over 1 million users globally.
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BTC-e: A Conduit for Cybercriminals
The prosecution has characterized BTC-e as a major conduit for cybercriminals worldwide. It enabled them to transfer, cleanse, and hide illicit proceeds from cr... Read the full article for FREE at COINOTAG!
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