Fun

New Zealand Police Seize $91 Million From Russian Bitcoin Exchange Operator

News Feed - 2020-06-23 09:06:06

New Zealand Police Seize $91 Million From Russian Bitcoin Exchange Operator


Police in New Zealand confiscated NZ$140 million ($91 million) from Russian bitcoin exchange operator Alexander Vinnik.


Vinnik is the alleged owner of the collapsed BTC-e exchange. The funds were seized from bank accounts held by Canton Business Corporation, a New Zealand-registered company managing the exchange.


Police said on Monday it is the biggest seizure in the history of the force. Vinnik is accused by U.S. prosecutors of laundering billions of dollars for criminal syndicates through the platform. He denies the charges.


He was arrested in Greece in 2017 while holidaying with his family on U.S extradition orders. Vinnik was later extradited to France, where he remains in jail.


New Zealand police commissioner Andrew Carter said the seized funds are “likely to reflect the profit gained from the victimisation of thousands, if not hundreds of thousands, of people globally as a result of cyber-crime and organised crime.”


Carter alleged that BTC-e exchange operated without anti-money laundering controls and policies, allowing criminals to launder illicit funds through the bourse.


He added that the New Zealand Police worked closely with the U.S. Internal Revenue Service (IRS) “to address this very serious offending.” Police are planning an application to the High Court to forfeit the impounded funds.


In France, Vinnik is charged with counts of aggravated money laundering, extortion, conspiracy, and data manipulation. When his case ends in France, he is expected to be sent back to Greece, then the U.S., and later to Russia.


What do you think about the New Zealand police’s BTC-e bank raid? Let us know in the comments section below.Wirecard CEO Quits as Crypto Card Firm Reveals Missing $2.1 Billion Does Not ExistNEWS | 15 hours agoMeet Mistcoin - The First Mineable SLP Token Implementation Launched on Bitcoin CashNEWS | 1 day agoTags in this storyAlexander Vinnik, Andrew Carter, BTC-e, BTC-e Exchange, Criminal syndicates, Cryptocurrency, Exchange Operator, France, Greece, Internal Revenue Service (IRS), Money Laundering, New Zealand police


Image Credits: Shutterstock, Pixabay, Wiki CommonsUse Bitcoin and Bitcoin Cash to play online casino games here.Show comments

News Feed
Helen Partz13 hours agoPayPal PYUSD stablecoin is 100% backed: Paxos transparency reportThe total assets held in PayPal USD custody “meet or exceed the token balance,” with total tokens outstanding amounting to $44.4
2023-09-13 19:07 PM
Is Bitcoin Headed For A New ATH After $104,000 Triumph? What This Market Expert Thinks
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
2025-05-11 01:30 AM
US Congress Weighs Bill Spelling Out CFTC’s Crypto Derivatives Oversight
The U.S. Congress will soon vote on a bill providing new information about the Commodity Futures Trading Commission’s (CFTC) authority over the cryptocurrency derivatives markets.
2019-11-06 08:45 AM
'Pre-halving top' due soon? 5 things to know in Bitcoin this week
William Suberg1 hour ago"Pre-halving top" due soon? 5 things to know in Bitcoin this weekBitcoin has slowed down into the end of February, and BTC price predictions have broadly lost their bullish slant.880 Total views1
2024-02-26 16:30 PM
Tom Blackstone6 hours agoBase’s ‘Onchain Summer’ saw over 700K NFTs minted from 268K users in AugustThe “Onchain Summer” promotion drove activity to the new network, with hundreds of thousands of users minting
2023-09-07 02:30 AM
Esports Leader and BSC Utility Token Nobility Announces Rostik Rusev for Advisory Board
Esports Leader and BSC Utility Token Nobility Announces Rostik Rusev for Advisory Board press release PRESS RELEASE. esports company & BSC Utility token Nobility has announced the a
2021-09-10 23:00 PM
Bitcoin miner Riot Platforms miss estimates with wider Q2 loss
Brayden Lindrea8 hours agoBitcoin miner Riot Platforms miss estimates with wider Q2 lossRiot managed to increase its revenue from Bitcoin mining despite reporting a staggering 340% increase in costs to mine a Bitcoin.48
2024-08-01 09:08 AM
Crypto Mining Should Be Registered and Taxed in Russia, Financial Market Committee Chair Says
Crypto Mining Should Be Registered and Taxed in Russia, Financial Market Committee Chair Says Cryptocurrency mining should be registered as entrepreneurial activity and taxed as su
2021-09-12 20:00 PM
Despite SEC Objection, Court Greenlights Billion-Dollar Asset Purchase Deal Between Binance US and Voyager
Despite SEC Objection, Court Greenlights Billion-Dollar Asset Purchase Deal Between Binance US and Voyager The asset purchase agreement between Binance US and bankrupt crypto lende
2023-01-12 14:00 PM
Chainlink (LINK) On Standby: Bitcoin’s Next Move Holds The Key
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
2025-06-28 06:00 AM
Goldman Sachs President Warns of ‘Unprecedented’ Economic Shocks and Tougher Times Ahead
Goldman Sachs President Warns of "Unprecedented" Economic Shocks and Tougher Times Ahead Global investment bank Goldman Sachs’ president and chief operating officer has warn
2022-06-05 09:00 AM
Renowned Investor Jim Rogers Warns of the Worst Recession in His Lifetime
Renowned Investor Jim Rogers Warns of the Worst Recession in His Lifetime Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, expec
2022-10-20 09:30 AM