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<ul class="news-points">
 <li>Russian national Alexander Vinnik has admitted to crypto money laundering via BTC-e.</li>
 <li>U.S. prosecutors said BTC-e facilitated over $9B in transactions and catered to over 1 million users globally.</li>
 <li>Vinnik is now facing the possibility of a 20-year prison sentence at his upcoming sentencing in the U.S.</li>
</ul>
Russian national Alexander Vinnik has admitted to participating in a crypto-related money laundering scheme, U.S. prosecutors <a href="https://www.bloomberg.com/news/articles/2024-05-03/russian-national-pleads-guilty-in-us-over-crypto-laundering" target="_blank" rel="noopener noreferrer nofollow">disclosed</a>. Vinnik admitted his involvement with BTC-e, one of the biggest Bitcoin exchanges active from 2011 to 2017.
According to a statement from the U.S. Attorney’s office in San Francisco, Vinnik was among the operators of BTC-e until law enforcement intervened, closing the exchange and arresting him. Prosecutors revealed that BTC-e facilitated over $9 billion in transactions and catered to over 1 million users globally.
The prosecution has characterized BTC-e as a major conduit for cybercriminals worldwide. It enabled them to transfer, cleanse, and hide illicit proceeds from criminal activities, including hacking, ransomware offenses, and drug trafficking.&nbsp;
Additionally, the platform is implicated in processing Bitcoin that has…
The post <a href="https://coinedition.com/russian-admits-to-9b-crypto-laundering-scheme-in-us-guilty-plea/" rel="noopener noreferrer nofollow">Russian Admits to $9B Crypto Laundering Scheme in US Guilty Plea</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Russian Admits to $9B Crypto Laundering Scheme in US Guilty Plea

Coin Edition

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