- 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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