The change was beforehand referred to as BTC-e, although its title was modified to WEX following authorized difficulties in 2017.
BBC Russia has reported that Dmitry Vasiliev, the previous chief of Russian cryptocurrency change Wex, has been arrested in Warsaw, Poland.
Wex, which was beforehand referred to as BTC-e, was a widely known “darkish” change within the early days of the cryptocurrency business. It’s alleged to have laundered funds for quite a few high-profile crypto hacks, together with the infamous Mt. Gox incident.
Though Vasiliev is thought to be harmless inside Poland’s jurisdiction, different international locations comparable to Kazakhstan have an open fraud case towards the elusive determine and as such, have reportedly engaged in discussions surrounding the potential for extradition.
It’s understood that Vasiliev was detained on August 11 by Polish authorities, however the information was solely uncovered by the Polish newspaper, Wyborcza, on Sept. 17.
Vasiliev allegedly facilitated trades for Chinese language buyers as an worker for BTC-e up till its closure in the summertime of 2017. Alexander Vinnik, the alleged head of BTC-e, was charged with laundering over $4B in Bitcoin over six years. He was subsequently arrested in Greece and was the topic of an investigation by United States authorities.
A couple of months after Vinnik’s arrest, Vasiliev emerged as director of the rebranded change, Wex, which went on to cement its place within the checklist of High-10 exchanges, with a every day buying and selling turnover of $80 million, by the calendar yr finish.
However simply over a yr later, Binance blacklisted Wex for alleged cash laundering practices — a call that may ultimately end result within the demise of the change.
In 2019, Vasiliev was arrested by Italian authorities, however was quickly launched after it was revealed that errors have been made within the extradition request.
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Just lately, the Financial institution of Russia started collaborating with native banks to droop its residents funds to crypto exchanges, citing buyer safety from “emotional” purchases as the explanation for enforced intervention.