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Bitcoin fraud suspect – Alexander Vinnik charged by US grand jury

US grand jury charged a Russian national over the suspected of billions of dollars using virtual currency Bitcoin.

On a US warrant, Alexander Vinnik 38 was arrested in Greece near the northern city of Thessaloniki.

The proclamation by US legal representative proclaims that he had been charged with 21 counts which embrace laundering stolen funds from the hack of the “Mt Gox” Bitcoin exchange. Over a few years, a gang assumed that laundered some $4bn.

Behind every illegal operation, Mr Vinnik is said to be “brain”. He has not made any public comments till date. The US representatives Office in California’s northern district said the condemnation covered “operating an unlicensed money service business, money laundering and related crimes”.

Specifically, it assumed that Alexander Vinnik get funds from the notorious computer invasion or ‘hack’ of Mt Gox.

Mt Gox is a Bitcoin exchange; it is a place where actual money could be substituted for the digital currency.

In 2014, influential declared insolvency after a hack which stole about 850000 Bitcoins. According to local media, Greece will soon start consultation along with US regarding Mr Vinnik’s expulsion.

Though, if any offender in the US, Mr Vinnik would make up to 20 years in reformatory on the money laundering charges. Bitcoin cryptocurrency is completely operated online. And each of Bitcoin is a computer file and stored in a digital wallet app on a phones or a systems.

Moreover, traditional currencies like US dollar, Bitcoin don’t own central bank and is not sponsor by any government.

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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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