Scams are no new things in BTC. In fact, the entire crypto market is full of scammers. These scammers are actually crime criminals impersonating real crypto dealers. In fact, to trap the unaware users, these scammers also create fake trading platforms. Therefore, if an investor is unaware, then he/she can fall prey to these scammers. In fact, these false BTC platforms may lead to a huge loss of property. BTC–e and WEX caused similar losses for many.
Vinnik, a Russian BTC-e operator, was one of the first BTC exchanges. In fact, this is also the first Bitcoin exchange that suffered an attack of 744,408 Bitcoins. Mr.Gox’s hack is connected to this exchange. GO through the article to discover more about the incident.
About Vinnik and The Attack
The attack was a severe one. As stated earlier, it stole 744,408 BTC. In fact, the server did not refund the stolen funds. However, in 2014, the exchange shut down. Vinnik too, never accepted that ran a BTC-e. Rather, he claimed to be a staff of the exchange. In spite of these claims, the BTC exchange was shut down and the US authorities confiscated the servers. In addition, Vinnic was arrested on a beach in Greece, where he was spending a holiday with his family.
However, there has been dragging among Russia, France and the US, since his arrest, for his extradition. These countries have been bringing various charges against him. A CNN brought out the news of the extradition of Vinnik from Greece to the US. In fact, the US authorities made several attempts to extradite Vinnik. Finally, some weeks ago, they called off the request. This made possible the movement of Vinnik to Greece and then back to the US.
In fact, Vinnic was indicted by a court in California. The court charged him with several criminal offences.
BTC: France Sentences Vinnik
Back in 2020, a French court sentenced Vinnick to 5 years in jail. The court brought the charges of money laundering against him. However, several other charges against him were dropped. The dropped charges included the likes of extortion, distorting automatic data process systems and conspiracy.
Belot, the lawyer of Vinnik, did not disclose the legal mechanism the US authorities applied. However, he stated that the Greece request would be reactivated if the US withdraws its request.
Just like BTC-e, WEX also faced similar luck. In fact, Dmitri Vasiliev, the CEO of WEX was repeatedly arrested in various countries. These two remain the most dangerous instances of BTC scams in recent times.