Officials arrest suspect in $4 bn Bitcoin money laundering schemeJuly 27, 2017 - 11:10 AMT PanARMENIAN.Net - A Russian national has been charged by a U.S. grand jury over the alleged laundering of billions of dollars using virtual currency Bitcoin, BBC News reports. Alexander Vinnik, 38, was arrested in Greece near the northern city of Thessaloniki on a U.S. warrant. A U.S. attorney later announced he had been charged with 21 counts, including laundering stolen funds from the hack of the "Mt Gox" Bitcoin exchange. The gang is believed to have laundered some $4bn over several years. Vinnik is said to be the "brain" behind the illegal operations. He has so far made no public comments. The U.S. Attorney's Office in California's northern district said the indictment covered "operating an unlicensed money service business, money laundering and related crimes." In particular, it alleged that Vinnik received funds "from the infamous computer intrusion or 'hack' of Mt Gox." Mt Gox was a Bitcoin exchange - a place where real money could be exchanged for the digital currency - which was once the largest of its kind. It was forced to declare bankruptcy in 2014 after a hack which stole about 850,000 Bitcoins - worth millions at the time. Local media reports say that Greece will soon begin negotiations with the U.S. about Vinnik's extradition. If convicted in the U.S., Vinnik could face up to 20 years in prison on the money laundering charges. Bitcoin is a digital currency that operates completely online. Each Bitcoin is basically a computer file which is then stored in a "digital wallet" app on a smartphone or computer. Unlike traditional currencies such as the U.S. dollar, Bitcoin has no central bank and is not backed by any government. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | “By Your Side”: IDBank's new support program for displaced Artsakh citizens IDBank is launching a long-term social support program for forcibly displaced Artsakh residents. The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. |