Vinnik is a Russian nationwide often known as a BTC-e operator, one of many preliminary Bitcoin exchanges. The alternate is linked to Mt. Gox’s hack, the primary Bitcoin alternate with an assault of 744,408 BTC.
Nonetheless, there was no restoration for the stolen funds, and the alternate shut down in 2014. Vinnik, on his half, by no means accepted to be operating BTC-e however stated he was a workers of the alternate.
Nonetheless, in 2017, the US authorities shut down BTC alternate and confiscated its servers. Vinnik was arrested whereas staying along with his household on a seashore in Greece. Since his time of arrest, there was dragging among the many three international locations, the US, Russia, and France. They’re competing for the extradition of Vinnik, with every indicating completely different allegations towards him.
A report from CNN disclosed the extradition of Alexander Vinnik, a crypto alternate operator, to the USA from Greece. The crypto alternate operator has been held in France, however his French lawyer, Frederic Belot, disclosed his extradition.
After a number of makes an attempt to extradite Vinnik, the US authorities known as off their request some weeks in the past. With the call-off of the request, Vinnik could possibly be moved to Greece after which to the USA.
In 2020 a California courtroom indicted Vinnik with allegations of a number of legal offenses. These embrace ransomware scams, laptop intrusions and hacking, narcotics distribution rings, id theft schemes, and corrupt public officers.
France Sentenced Vinnik To five Years Imprisonment For BTC Fraud
France later succeeded in 2020 because it acquired Vinnik, and a French courtroom sentenced him to five years in jail. Vinnik was charged with cash laundering. However different costs corresponding to conspiracy, extortion, and distorting automated information course of programs have been dropped. Additionally, the Courtroom of Enchantment of Paris upheld the imprisonment phrases.
Vinnik’s lawyer, Belot, didn’t clarify the authorized mechanism the US authorities utilized throughout their extradition request. Nonetheless, he talked about that if the US withdrew its request, this could reactivate the Greece request.
The launch of WEX, an offspring of crypto alternate, occurred some months following the shutdown of BTC-e. WEX had its buying and selling pairs and web site design fairly much like BTC-e. It had obtained entry to the person base of BTC-e. Additionally, it promised that it might steadily make refunds to BTC alternate customers of all their losses earlier than the platform was shut down.
Throughout the summer season of 2019, WEX stopped operations. Customers have been complaining of getting withdrawal points. Additionally, they observed that the value of BTC acquired increased than what different exchanges have been providing.
Moreover, WEX CEO, Dmitri Vasiliev, was repeated arrested in numerous international locations. These embrace Croatia, Italy, and Poland.
Featured picture from Pixabay, chart from TradingView.com