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.
Continue reading “Russian Suspected of Running $4 Billion Bitcoin Laundering Ring Arrested”

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”