Vinnik’s Role in BTC-e’s Criminal Operations
Alexander Vinnik, co-founder of the cryptocurrency exchange BTC-e, has admitted his guilt in a money laundering conspiracy involving $9 billion. The US Department of Justice (DOJ) alleges that BTC-e was a hub for cybercriminals, facilitating illicit transactions from 2011 to 2017.
Vinnik, a Russian national, served as an operator of BTC-e, which lacked anti-money laundering (AML) protocols and was not registered as a money transmitter with the US Financial Crimes Enforcement Network (FinCEN). The exchange allegedly worked with unregistered shell companies to transfer funds for its customers, including hackers, scammers, and drug dealers.
DOJ’s Commitment to Crypto Crime Enforcement
Deputy Attorney General Lisa Monaco praised the DOJ’s efforts in combating crypto-related crimes. She emphasized the department’s determination to fight money laundering, regulate crypto markets, and provide restitution to victims.
Vinnik’s Legal Journey
Vinnik was arrested in Greece in 2017 and later extradited to France, where he was convicted of money laundering and sentenced to five years in prison. After serving two years in France, he was transferred to the United States.
Vinnik attempted to negotiate a prisoner swap with Russia, but his guilty plea has now set the stage for his sentencing in a US federal court.
