Russian Arrested for Running $4 Billion Bitcoin Laundering Ring

Paterniano Del Favero
Luglio 26, 2017

A Russian national arrested in Greece on Wednesday on suspicion of laundering criminal funds by switching them into bitcoins is a key person behind the BTC-e crypto-currency exchange, two sources close to the exchange told Reuters.

A Russian man wanted in the US for alleged money-laundering worth some $4 billion has been arrested in Greece, local police confirmed Wednesday.

Police did not name the 38-year-old, who was arrested on Monday on a USA warrant, but many in the cryptocurrency community online are suspecting he was the operator of BTC-e.

The American newspaper quoted Damon McCoy, a New York University computer science and engineering professor, who said: "It's hard for law enforcement to put pressure on BTC-E because it's a Russian-operated bitcoin exchange".

Bitcoin was the first digital currency to successfully use cryptography to keep transactions secure and hidden, making traditional financial regulation hard if not impossible.

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