Category Archives: mt gox

U.S., Russia fighting to extradite suspected Russian cybercriminal who ran $4 billion bitcoin exchange

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The case against the Russian cybercrime suspect Alexander Vinnik opened in a Greek courtroom on Friday with two world powers sparring over who will extradite the Russian citizen. Vinnik, 37, pleaded not guilty to charges from the United States that he ran the cryptocurrency exchange BTC-e and engaged in money laundering at the scale of $4 billion. His lawyer is fighting extradition to California where federal charges were filed against him. He was arrested on those charges while he vacationed in Greece over the summer. A decision on the U.S. request is set to be made by Oct. 4. Vinnik, a Russian national, also faces charges in Russia in a separate fraud case that will reach a Greek court next week. Vinnik’s lawyer said he won’t fight that extradition request, indicating a preference of Moscow over the United States. The U.S. Justice Department describes Vinnik as the man behind BTC-e, […]

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Bitcoin Exchange Operator Arrested For $4 Billion Money Laundering Scheme

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Greek police have arrested a Russian man who is believed to have been the operator of the popular BTC-e Bitcoin exchange on charges of laundering more than $4 billion in bitcoin for culprits involved in hacking attacks, tax fraud and drug trafficking.

A United States jury indicted 38-year-old Alexander Vinnik on Wednesday after his arrest in Greece on Tuesday at the request of US law

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The curious case of the missing Mt. Gox bitcoin fortune

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Did you lose a bunch of bitcoin from Mt. Gox? The “destination” of the digital currency from bitcoin’s most infamous theft is “definitely” known — but the finders won’t say where those coins are currently located. Mt. Gox, the largest bitcoin exchange at the time of its headline-grabbing demise, declared bankruptcy after the theft or disappearance of 850,000 bitcoins valued at $450 million in February 2014, along with $27 million in cash. Although 200,000 were eventually found, the location of the remaining 650,000 remained unknown and the subject of much speculation over the last three years. It turns out that Chainalysis, the investigator for Mt. Gox’s creditors, “definitely” knows where the coins are sitting right now, according to congressional testimony by the firm’s co-founder. Due to the surge in the cryptocurrency’s value since Mt. Gox went down, the 650,000 missing bitcoins are currently worth nearly $2 billion. The legal battles over the missing coins temporarily landed the CEO of […]

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