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Greek police arrested a man running the BTC-e Bitcoin exchange to launder more than US$4bn worth of the Bitcoin

Greek police arrested a man running the BTC-e Bitcoin exchange to launder more than US$4bn worth of the Bitcoin

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Greek Police arrested a Russian man and accused him of running the BTC-e Bitcoin exchange to launder more than US$4bn worth of the cryptocurrency.

Greek Police have arrested the Russian national Alexander Vinnik (38) and they accuse the man of running the BTC-e Bitcoin exchange to launder more than US$4bn worth of the cryptocurrency.

The police seized two laptops, two tablets, mobile phones, a router, a camera, and four credit cards.

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The authorities reported that since 2011, 7 million Bitcoin went into the BTC-e exchange and Five.Five million withdrawn.

According to the Greek media outlet the Daily Thess, he FBI tracked Alexander Vinnik for more than a year.

“38-year-old Russian Alexander Vinnik loved his vacation with his playmate ter one of the most expensive hotels ter Ouranoupoli ter Halkidiki. He had not realized the slightest of the FBI steps he had bot watching for months, informing the Greek prosecution authorities of his activity.” reported the the Daily Thess. “Yesterday after a verrassing operation he wasgoed arrested and today he wasgoed manacled to the prosecutor of the Thessaloniki Court of Appeals te order to commence the proceedings for his extradition to the United States.”

The Greek outlet reported that the Russian embassy te Greece has confirmed the hechtenis of the crook and is waiting for the extradition to the US.

The Tokyo-based group WizSec who investigated the Mt Gox case exposed that pilfering goes back spil far spil 2011, the experts are now accusing Vinnik of laundering the proceeds of the Bitcoin theft that caused the shut down of the major exchange.

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“Earlier today news broke of an hechtenis ter Greece of a Russian national suspected of running a large-scale money laundering operation focused on Bitcoin. The man has since bot publicly identified spil Alexander Vinnik, 38, and overheen $Four billion USD is said to have bot trafficked through the operation since 2011.” reads a postbode published by Wizsec.

“We won’t hammer around the pubic hair with it: Vinnik is our chief suspect for involvement ter the MtGox theft (or the laundering of the proceeds thereof). This is the result of years of patient work, and thesis findings were surely independently uncovered by other investigators spil well.”

Wizsec experts reported that after Mt Gox’s hot wallet private keys were stolen ter 2011, the Bitcoin were transferred to a number of wallets managed by Vinnik.

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Below an resum from the Wizsec postbode,

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  • Te September 2011, the MtGox hot wallet private keys were stolen, te a case of a elementary copied wallet.dat opstopping. This talent the hacker access to a sizable number of bitcoins instantaneously, but also were able to spend the incoming trickle of bitcoins deposited to any of the addresses contained.
  • Overheen time, the hacker regularly emptied out whatever coins they could spend using the compromised keys, and sent them to wallet(s) managed by Vinnik. This went on for long periods, but also had cracks a vooraanstaand 2nd phase of thefts happened zometeen ter 2012 and 2013.
  • By mid 2013 when the funds spendable from the compromised keys had slowed to a near halt, the thief had taken out about 630,000 BTC from MtGox.

The experts at Wizsec discovered some of the stolen keys turning up at BTC-e wallets, thesis wallets were used to launder the crypto currencies stolen te various cyber heists inbetween 2011 and 2012, including Bitcoinia and Bitfloor.

Vinnik transferred some coins back onto Mt Gox because the man used accounts that could be linked to his online identity ‘WME’.

Earlier July, the trial of Mark Kapeles, the Mt Gox’s boss, began, according to documents filed with the Tokyo District Court, toughly 307,000 BTC were transferred to BTC-e wallets.

Te the July 26 court hearing ter Thessaloniki, Vinnik denied the accusations, now the final decision on the extradition will be taken by the Greek Minister of Justice.

The experts at Wizsec discovered some of the stolen keys turning up at BTC-e wallets, thesis wallets were used to launder the crypto currencies stolen te various cyber heists inbetween 2011 and 2012, including Bitcoinia and Bitfloor.

Vinnik transferred some coins back onto Mt Gox because the man used accounts that could be linked to his online identity ‘WME’.

Earlier July, the trial of Mark Kapeles, the Mt Gox’s boss, began, according to documents filed with the Tokyo District Court, toughly 307,000 BTC were transferred to BTC-e wallets.

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Ter the July 26 court hearing ter Thessaloniki, Vinnik denied the accusations, now the final decision on the extradition will be taken by the Greek Minister of Justice.

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2 thoughts on “Greek police arrested a man running the BTC-e Bitcoin exchange to launder more than US$4bn worth of the Bitcoin

  1. Cupcakes and Kittens says:

    I never had problems with this exchange. The truth I trade it on it uncommonly because I choose exchanges with higher volumes. But sometimes it happens that the token is traded on only one exchange.

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