Russian Arrested for Allegedly Operating $4 Billion Bitcoin Crime Website

BTC-e, one of the most cryptic crypto exchanges, has been 'under maintenance' for a day now, which has led many of its users to express fears that the platform has been hacked. But it now seems that another explanation for the disappearance of the Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term is emerging.

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Greek police have arrested a Russian man suspected of running a $4 billion money laundering operation related to illicit business activities with Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term, according to a just-released Reuters report.

Police did not name the 38-year-old, who was arrested on Monday on a US warrant, but many in the cryptocurrency community online suspect that he was the operator of BTC-e.

He is suspected of heading a criminal organization since 2011 that "owns, operates and manages one of the world's leading e-crime websites", police said in a statement.

UPDATE: The suspect's name is Alexander Vinnik.

Coincidentally, BTC-E was founded in 2011, and yesterday a report appeared in USA Today claiming research found that 95% of the ransomware related to Bitcoin went through BTC-E.

The American newspaper quoted Damon McCoy, a New York University computer science and engineering professor, who said: “It’s hard for law enforcement to put pressure on BTC-E because it’s a Russian-operated bitcoin exchange."

There is very little public information about BTC-e and its operators despite it being one of the longest running exchanges and having a large base of customers. As such it is liable to be the subject of many rumours, especially after going dark for so many hours.

US authorities have been on a global hunt for Bitcoin markets operating in the dark recently. Less than two weeks ago, the alleged founder of AlphaBay was found dead in a Thai prison hours before his deportation hearing to the US.