Greek Court Supports Extradition of Former BTC-E Operator Alexander Vinnik

greek court supports extradition of former btc e operator alexander vinnik - Greek Court Supports Extradition of Former BTC-E Operator Alexander Vinnik


A Greek court has ruled in favor of extraditing the alleged former operator of BTC-e, Alexander Vinnik, to the United States. Vinnik was arrested by authorities late July 2017, and stands accused of masterminding a $4 billion money-laundering ring through the cryptocurrency exchange BTC-e.

Also Read: BTC-E Rebrands to Wex Exchange — Claims to Be AML/KYC Compliant

Alexander Vinnik Will Face up to 55 Years in Prison If Extradited to the United States

greek court supports extradition of former btc e operator alexander vinnik - Greek Court Supports Extradition of Former BTC-E Operator Alexander Vinnik

The Russian is accused of providing money laundering services and facilitating a wide range of crimes extending back from 2011, including drug trafficking and computer hacking. Vinnik denies having been the former operator of BTC-e, instead claiming that he only worked as a “technical consultant” for the cryptocurrency exchange. Vinnik is also accused of having profited from the Mt. Gox hack, with U.S. authorities claiming that Vinnik “obtained” funds that had been stolen from Mt. Gox, before laundering them via BTC-e and Tradehill.

Russia has also submitted an extradition request for Vinnik, who there would be subject to more lenient charges of fraud. Although Alexander Vinnik also denies accusations of fraud, he has consented to Russia’s extradition request. A date has yet to be set for the formal hearing of Russia’s extradition request. Vinnik is one of seven Russian nationals that have been arrested or indicted for U.S. cybercrime charges this year.

Vinnik and his lawyers have appealed to the Greek Supreme Court, arguing that “insufficient indications, let alone evidence” had been presented against Vinnik by the Thessaloniki court that ruled in favor of extraditing the Russian. The lawyer leading Vinnik’s defense, Alexandros Lykourezos, told media, “we hope and expect a better outcome.” If the appeal is unsuccessful, Greece’s justice minister will have the final say regarding Vinnik’s future, as the Greek justice minister has the power to approve or block competing extradition requests for individuals tried in Greece. “We have faith in the Greek justice system and a long road ahead of us,” Xanthippi Moisidou, another lawyer defending Vinnik told reporters.

READ  Zimbabwe News - Bitcoin Selling at Twice Global Dollar Average

Vinnik Was Arrested in a Coastal Village Located in Northern Greece During Late July

1507208190 217 greek court supports extradition of former btc e operator alexander vinnik - Greek Court Supports Extradition of Former BTC-E Operator Alexander Vinnik

Following Vinnik’s arrest, BTC-e went offline, hosting a static front page claiming that the website was under maintenance. The U.S. Department of Justice described BTC-e as “one of the largest entities in the field of electronic money laundering.”

The arrest and subsequent seizure of BTC-e’s assets has brought into question how far the international jurisdiction of the United States extends with regards to cybercrime. These actions comprised the first instance of U.S. government agencies attacking a completely foreign exchange on foreign soil. BTC-e reported that “on July 25… the FBI staff came to the data center… and seized all equipment, the servers contained databases and purses of our service,” in addition to fining the company $110,003,314 USD. Amidst the chaos, numerous presumably innocent traders’ funds were seized – including an Australian who lost $430,000 USD worth of bitcoin as a consequence of the U.S. government’s seizures.

BTC-e has since rebranded to, and claims to operate in full compliance with Anti-Money Laundering and Know Your Customer laws and requirements.

Do you think that Alexander Vinnik will be extradited to the United States for trial? Share your thoughts in the comments section below!

Images courtesy of Shutterstock, Wikipedia

At all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.  

Source Link

22 Replies to “Greek Court Supports Extradition of Former BTC-E Operator Alexander Vinnik”

  1. Pretty section of content. I just stumbled upon your site and in accession capital to assert that I
    get actually enjoyed account your blog posts. Anyway I’ll be
    subscribing to your augment and even I achievement you access consistently fast.

  2. Hello there! I know this is kind of off topic but I was wondering which blog platform are you using for this
    website? I’m getting sick and tired of WordPress because I’ve had issues with hackers and I’m looking at options for another platform.
    I would be great if you could point me in the direction of a good platform.

  3. It’s actually a great and helpful piece of info.
    I am happy that you shared this helpful info with us. Please keep us up
    to date like this. Thank you for sharing.

  4. Hi there! Someone in my Facebook group shared this site with us
    so I came to check it out. I’m definitely enjoying the information. I’m
    bookmarking and will be tweeting this to my followers!
    Fantastic blog and outstanding design.

Leave a Reply

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