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Russian BTC-E Operator To Spend Five Years in Jail

Russian BTC-E Operator To Spend Five Years in Jail

A Russian bitcoin exchange operator has been sentenced to five years in jail for evading taxes on the sale of cryptocurrencies.

The bitcoin $15,000 is a cryptocurrency that has seen a huge increase in price. A Russian BTC-E operator was sentenced to five years in jail for hacking into the exchange’s computer systems.

Alexander Vinnik is a computer expert from Russia. He worked for BTC-e, a Russian cryptocurrency exchange, from 2011 until 2017. According to TASS, the Paris Court of Appeal affirmed Russian Alexander Vinnik’s five-year jail sentence after he was convicted of money laundering in France.

Vinnik was apprehended in Greece in 2017, under US direction, igniting a three-way battle for his extradition between France, Russia, and the US. Finally, France has emerged victorious. The Russian computer specialist was detained in July 2017 while on vacation in Greece, according to the US.

He is accused by the US of laundering more than $4 billion while working for the now-defunct crypto exchange BTC-e. In January 2020, Vinnik was extradited to France, where he was sentenced to five years in prison in December.

His lawyer, Frédéric Bélot, is concerned that Greece may need him to return to the country after the term to face extradition to the United States on comparable accusations.

In addition, Russia has filed an extradition request based on humanitarian reasons. Nonetheless, it has been considered that delaying critical material may convince Russia to drop its extradition request. In order to keep its intelligence activities out of the hands of foreign adversaries.

According to some analysts, Russian intelligence agencies may have used BTC-e to safeguard Bitcoin for secret purposes. If Vinnik is extradited to Russia, he will face accusations of “fraud in the area of computer information.”

The Defense Team’s Efforts

Tatiana Moskalkova, the Russian Ombudswoman for Fundamental Freedoms, sought assistance from the United Nations High Commissioner for Human Rights. Vinnik embarked on a hunger strike in Greece in November 2018, and she vouched for his return.

As a result, she emphasized Vinnik’s and his better half’s deteriorating health at that time, who had been diagnosed with brain cancer.

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According to French law, the defense team must file a cassation claim within five days. The Parisian court turned down several demands from Vinnik’s defense team, including a request to see copies of the FBI’s evidence.

Vinnik, on the other hand, was spared the $100,000 fine that came with the December sentencing. He was originally accused of using ransomware to defraud almost 200 people, but the court ruled him not guilty in December.

The prosecution had asked for a lower fine. According to Russian official media outlet TAAS, he expressed worries that he would be able to pay out the victims of his breaches.

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The bitcoin this weekend is a cryptocurrency exchange that was seized by the United States Department of Justice. The operator, Alexander Vinnik, will spend five years in jail for his crimes.

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