A Twisted Tale: BTC-e, AlphaBay and Crypto-Crime

I write for the finance and investment website ValueWalk. My post entitled A Twisted Tale: BTC-e, AlphaBay and Crypto-Crime is now online. Here is an excerpt:

Mr. Vinnik, 38, is a central figure in the virtual currency exchange BTC-e, listed as one of the oldest running Bitcoin exchanges in the market. The arrest, carried out in Greece, was in response to a U.S. warrant in relation to his alleged running of a money laundering scheme that had converted $4 billion in illicit cash into virtual currency in what can be best described as an alleged huge Bitcoin money laundering attempt. He will now be extradited to the U.S.

BTC-e had been reporting “technical problems” in recent days, and its Twitter feed had reflected ongoing risks and “unplanned maintenance” in English and Russian throughout July.

The presence of money launderers, hackers and thieves is not new to any area of internet-related business, but Mr. Vinnik’s arrest might also shine a light on one of Bitcoin’s most infamous chapters: the collapse of Mount Gox.

To read more visit ValueWalk here.

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