Greece’s Civil and Criminal Court will extradite Alexander Vinnik, the alleged owner of BTC-e exchange to face the cyber fraud charges he stands accused of.
Vinnick was detained last year after U.S. prosecutors accused him of supervising a digital-currency exchange that helped criminals launder billions of dollars.
France also charged him with defrauding 100 people in six French cities between 2016 and 2018. In Russia, he has been accused of the fraudulent cases amounting 667000 rubles, or $9,800.
While Greece ruled in December 2017 the Vinnick could be extradited to the U.S., the process was stalled by requests from France and Russia.
Greece must now decide where he’ll go. However, before coming to any resolution on extradition, the Greek justice ministry will also need to consider Vinnick’s asylum request. The decision rests with the Greek Minister of Justice.
In the meantime, Vinnick repudiates the charges leveled against him by the U.S. and France. “I do not recognize these fake charges. Russia will sort everything out to determine whether or not I am guilty, while France and the US will not be able to do so, as there is no justice there,” he says.
Crimes related to digital currencies have been on the rise since 2014
The cryptocurrency sector is fully anonymous which makes it possible to carry out transactions without revealing your true identity.
Bitcoin and other digital currencies have seen some associations with several crimes including money laundering, drug trafficking, and fraud.
Most of these transactions appear to take place on the dark web. Reports say that this is not the first time Russian nationals may have crypto related crimes in the United States. Experts are saying that the crypto market can use regulation to reduce crime related activities. Regulation may have a negative effect in the short term but will prove very beneficial in the longterm.
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