Subscribe to industry newsletters

Advertise on Bizcommunity

Russian sought in bitcoin laundering held in Greece

THESSALONIKI - Greek police said they had arrested a 38-year-old Russian sought by US authorities for allegedly helping criminals launder billions of dollars using bitcoin.
Police said the man, identified as Alexander Vinnik, headed a organisation that has allegedly laundered at least $4bn since 2011 using the virtual currency.

He was arrested on Tuesday in the tourist resort of Halkidiki, near the northern city of Thessaloniki.

According to Greek police, part of the suspect's illegal gains came from the collapse in 2014 of Tokyo-based bitcoin exhange Mt. Gox.

A California court issued a warrant for his arrest in January, they said.

Bitcoin is a virtual currency created from computer code. Unlike a real-world unit such as the US dollar or the euro, it has no central bank and is not backed by any government.

Just like other currencies, bitcoins can be exchanged for goods and services -- or for other currencies -- provided the other party is willing to accept them.
Source: AFP


I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: