Bitcoin

Operator of BTC-e bitcoin exchange arrested

BTC-e operator arrested
(C) iStock.com/Trifonenko

A US jury has indicted the operator of BTC-e Alexander Vinnik on 26 July, following his arrest in a Greek village on the previous day.

BTC-e has been in operation trading bitcoin since 2011, and the US justice department claims that it was used to launder over $4 billion for criminals involved in activities ranging from hacking to drug trafficking.

Authorities are also linking Vinnik to the collapse of Japan-based bitcoin exchange Mt Gox, which failed in 2014 due to being hacked.

Brian Stretch, US attorney for the Nothern District of California, (where Vinnik was indicted) said:

“Just as new computer technologies continue to change the way we engage each other and experience the world, so too will criminals subvert these new technologies to serve their own nefarious purposes.”

Series of operations

According to the Guardian, the arrest of Vinnik is part of a series of operations by US authorities to tackle Russian cybercrime in Europe.

The recent takedown of the dark web marketplaces AlphaBay and Hansa are part of these ongoing operations.

The US alleges that Vinnik, through his role of operator of the BTC-e exchange, facilitated crimes ranging from hacking, identity theft, drug trafficking and various types of fraud.

The site was known as having a relaxed standard for checking user identity and had a history of non-compliance with authorities.

The BTC-e site was been out of action for more than 24 hours, due to ‘unplanned maintenance’.

2 Comments

2 Comments

  1. how to buy bitcoin australia

    December 14, 2017 at 5:12 am

    First off I want to say fantastic blog! I had a quick question that I’d like to ask
    if you don’t mind. I was interested to find out how you center yourself and
    clear your head before writing. I have had difficulty clearing my mind in getting my thoughts out there.
    I do take pleasure in writing but it just seems like the first 10 to 15 minutes
    are generally wasted simply just trying to figure out how to begin. Any recommendations or hints?
    Thank you!

    • Colm Hebblethwaite

      December 14, 2017 at 9:44 am

      Planning. Also, everyone wastes the first 10 – 15 minutes, its a normal part of the process.

Leave a Reply

Your email address will not be published. Required fields are marked *

To Top