Russian Suspected of Running $4 Billion Bitcoin Laundering Ring Arrested

Man Suspected of Laundering 'at Least' $4 Billion in Bitcoins Arrested

  • ATHENS — A Russian man suspected of laundering at least $4 billion in criminal funds by switching them into the digital currency bitcoin has been arrested in Greece, police said on Wednesday.
  • After a tip-off, he was arrested in a small beachside village in northern Greece, on a U.S. warrant, and police said the United States would seek to extradite him.
  • “Since 2011 the 38-year-old has been running a criminal organization which administers one of the most important websites of electronic crime in the world,” police said in a statement, describing an alleged money laundering operation that “legalizes proceeds from illegal activities”.
  • Bitcoin was the first digital currency to successfully use cryptography to keep transactions secure and hidden, making traditional financial regulation difficult if not impossible.
  • The detainee was held on four counts of running an unlicensed money-transfer operation, conspiracy, money laundering in violation of 17 acts in the U.S. criminal code, and transactions in cash acquired through illicit means.

Alexander Vinnik, a Russian man suspected of laundering at least $4 billion in criminal funds by switching them into bitcoins, has been arrested in Greece, police said on Wednesday.
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When the White House Lies About You

  • So it came as a bad surprise when, the following morning, Dan Scavino, the White House director of social media, tweeted that I had.
  • CIA Dir Pompeo calls out @NYTimes for publishing name of an UNDERCOVER CIA agent.Just as disgraceful?@BretStephensNYT REPEATS name 2x’s!
  • If Scavino had never heard of Agee, didn’t know the name of the C.I.A. officer whose name was published by The Times and didn’t bother to fact check before tweeting, he might have inferred from my reply that I had indeed done what he alleged.
  • This one bubbles over and erupts with them, like a fetid geyser at Yellowstone.Nor is it new that Scavino’s attack is also part of a broader White House effort to demonize The New York Times.
  • If Anthony Scaramucci is serious about cleaning house in his new shop, dismissing Scavino should be a priority.

For the Trump administration, no lie is too small to be weaponized.
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Bitcoin fraud suspect arrested in Greece

  • Image copyright
    AFP/Getty Images

    Image caption

    Alexander Vinnik (centre) has made no public comments since his arrest

    A Russian national has been arrested in Greece suspected of being member of a gang that has allegedly laundered billions of dollars using Bitcoin.Police said 38-year-old Alexander Vinnik was held on a US warrant near the northern city of Thessaloniki.The gang is believed to have used the digital currency to launder at least $4bn (ÂŁ3bn) over several years.

  • Mr Vinnik is said to be the “brain” behind the illegal operations.
  • He has so far made no public comments.Laptops, mobile phones, credit cards and tapes were found in the hotel room in the tourist resort of Halkidiki, where the suspect was arrested.Local media reports say that Greece will soon begin negotiations with the US about Mr Vinnik’s extradition.Bitcoin is a digital currency that operates completely online.
  • Each Bitcoin is basically a computer file which is then stored in a “digital wallet” app on a smartphone or computer.Unlike traditional currencies such as the US dollar, Bitcoin has no central bank and is not backed by any government.

He is said to be part of a gang accused of laundering billions of dollars using the digital currency.
Continue reading “Bitcoin fraud suspect arrested in Greece”

Crypto investors flock to a market where tech giants Amazon, Google and Facebook are absent

  • But for entrepreneurs and tech investors, crypto and the underlying blockchain technology has a particularly attractive quality that’s unique in today’s tech landscape — it’s about the only high-growth area not occupied by the industry giants.
  • They’re big, getting bigger and building the computing platforms of the future.
  • For Chris Dixon, a partner at venture firm Andreessen Horowitz, their relative absence from crypto and blockchain is a welcome sight.
  • “A big challenge in the start-up world is that we live in an era of very powerful incumbents,” Dixon said, in a recent interview with CNBC.

Unlike every other fast-growing market in tech, crypto and blockchain aren’t dominated by the big incumbents.
Continue reading “Crypto investors flock to a market where tech giants Amazon, Google and Facebook are absent”

Russian held over bitcoin laundering linked to BTC-e exchange: Sources

  • A Russian national arrested in Greece on Wednesday on suspicion of laundering criminal funds by switching them into bitcoins is a key person behind the BTC-e crypto-currency exchange, two sources close to the exchange told Reuters.
  • BTC-e, one of the oldest trading platforms for digital currencies, did not immediately respond to a request for comment.
  • Police sources identified the man as Alexander Vinnik, 38, who was arrested in northern Greece on a U.S. warrant and is accused of laundering at least $4 billion.

A Russian national was arrested in Greece on suspicion of laundering criminal funds through Bitcoin.
Continue reading “Russian held over bitcoin laundering linked to BTC-e exchange: Sources”

Bitcoin fraud suspect arrested in Greece

  • Image copyright
    AFP/Getty Images

    Image caption

    Alexander Vinnik (centre) has made no public comments since his arrest

    A Russian national has been arrested in Greece suspected of being member of a gang that has allegedly laundered billions of dollars using Bitcoin.Police said 38-year-old Alexander Vinnik was held on a US warrant near the northern city of Thessaloniki.The gang is believed to have used the digital currency to launder at least $4bn (ÂŁ3bn) over several years.

  • Mr Vinnik is said to be the “brain” behind the illegal operations.
  • He has so far made no public comments.Laptops, mobile phones, credit cards and tapes were found in the hotel room in the tourist resort of Halkidiki, where the suspect was arrested.Local media reports say that Greece will soon begin negotiations with the US about Mr Vinnik’s extradition.Bitcoin is a digital currency that operates completely online.
  • Each Bitcoin is basically a computer file which is then stored in a “digital wallet” app on a smartphone or computer.Unlike traditional currencies such as the US dollar, Bitcoin has no central bank and is not backed by any government.

He is said to be part of a gang accused of laundering billions of dollars using the digital currency.
Continue reading “Bitcoin fraud suspect arrested in Greece”

Greece arrests Russian suspected of running $4 billion bitcoin laundering ring

Greece arrests Russian suspected of running $4 billion bitcoin laundering ring

  • A Russian man suspected of laundering at least $4 billion of criminal funds by switching them into the digital currency bitcoin has been arrested in Greece, police said on Wednesday.
  • After a tip-off, he was arrested in a small beachside village in northern Greece, on a U.S. warrant, and police said the United States would seek to extradite him.
  • “Since 2011 the 38-year-old has been running a criminal organisation which administers one of the most important websites of electronic crime in the world,” police said in a statement, describing an alleged money laundering operation that “legalizes proceeds from illegal activities”.
  • The detainee was held on four counts of running an unlicensed money-transfer operation, conspiracy, money laundering in violation of 17 acts in the U.S. criminal code, and transactions in cash acquired through illicit means.
  • U.S. prosecutors have charged him with hacking offences, saying he operated a network of tens of thousands of infected computers used by cyber criminals.

A Russian man suspected of laundering $4 billion of criminal funds by switching them into the digital currency bitcoin has been arrested in Greece.
Continue reading “Greece arrests Russian suspected of running $4 billion bitcoin laundering ring”