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 <p class="is-style-lead">The Meshchansky District Court of Moscow has <a rel="noopener noreferrer nofollow" title="sentence" href="https://thebittimes.com/tag/sentence.html">sentence</a>d Alexei Bilyuchenko, the former technology <a rel="noopener noreferrer nofollow" title="administrator" href="https://thebittimes.com/tag/administrator.html">administrator</a> of BTC-e exchange and co-founder of WEX, to 3 <a rel="noopener noreferrer nofollow" title="years" href="https://thebittimes.com/tag/years.html">years</a> and 6 months in <a rel="noopener noreferrer nofollow" title="prison" href="https://thebittimes.com/tag/prison.html">prison</a> for misappropriation of the exchange’s funds.</p> 
 <p>Bilyuchenko would also have to pay a fine of 3.1 billion in rubles (around $33 million) for the damage he caused to the exchange’s customers. The prosecution wanted the Moscow judge to <a rel="noopener noreferrer nofollow" title="sentence" href="https://thebittimes.com/tag/sentence.html">sentence</a> Bilyuchenko to of 4.5 <a rel="noopener noreferrer nofollow" title="years" href="https://thebittimes.com/tag/years.html">years</a> in <a rel="noopener noreferrer nofollow" title="prison" href="https://thebittimes.com/tag/prison.html">prison</a> and fine him 1 million in rubles (around $10,500).</p> 
 <p>In June 2023, The U.S. Department of Justice (DOJ) unsealed charges against two Russian nationals, Alexey Bilyuchenko and Aleksandr Verner, in connection with the 2011 hacking incident involving Mt.Gox, a prominent Bitcoin exchange at the time.</p> 
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 <p>The charges accuse Bilyuchenko and Verner of engaging in a conspiracy to commit money laundering. Moreover, Bilyuchenko faces an additional charge in the U.S. for conspiring with Alexander Vinnik, who was extradited to the U.S. in August 2022 to be held accountable for operating BTC-e between 2011 and 2017.</p> 
 <p>As of February 2015, BTC-e handled around 3% of all Bitcoin (BTC) exchange volume. </p> 
 <p>According to reports, WEX exchange was ultimately handed over to Konstantin Malofeyev, a Russian citizen who has been charged with violating U.S. sanctions arising from the 2014 Russian “undermining of democratic processes and institutions in Ukraine,” as per the DOJ.</p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/moscow-court-sentences-ex-btc-e-administrator-to-3-5-years-in-prison-tbt63665.html">https://thebittimes.com/moscow-court-sentences-ex-btc-e-administrator-to-3-5-years-in-prison-tbt63665.html</a></p>

Moscow court sentences ex-BTC-e administrator to 3.5 years in prison

TheBitTimes

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