27 Jul '17, 11am

Russian charged over $4 billion bitcoin laundering scheme

Russian charged over $4 billion bitcoin laundering scheme

The DoJ says that the exchange also laundered the proceeds from ransomware attacks, including "Cryptowall. Top top it off, it accused Vinnik's exchange of laundering funds from the now defunct Silk Road drug and weapons site, via affiliated officials Carl Force and Shaun Bridges. "Through Vinnik's efforts, BTC-e emerged as one of the principal means by which cyber criminals around the world laundered the proceeds of their illicit activity," the DoJ wrote. Along with the 17 money laundering charges, the DoJ accused BTC-e of not registering in the US as a "money service," despite the fact that it did "substantial" operations there. The firm ran its US business in part through related shell companies, most of which were also not registered with the US financial crimes enforcement network (Fincen). Through Vinnik's efforts, BTC-e emerged as one of the principal means by which ...

Full article: https://www.engadget.com/2017/07/27/doj-charges-alexander...

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