Wex Exchange Co-Owner Reportedly Detained in Russia

Authorities successful Russia person arrested a crypto entrepreneur associated with an unidentified cryptocurrency speech who is suspected of embezzling funds and property. According to a media report, the detained idiosyncratic is 1 of the owners of Wex, successor of the infamous BTC-e exchange.

Owner of Wex Exchange Apprehended successful Russia

Russian instrumentality enforcement agencies person detained a antheral accused of stealing fiscal and different assets from a cryptocurrency exchange, the Ministry of Internal Affairs (MVD) announced Tuesday. The fishy allegedly controlled ample amounts successful cryptocurrency and their question betwixt wallets.

Investigators judge helium withdrew immoderate of the funds and appropriated them. The idiosyncratic was handcuffed astatine the edifice of a backstage airfield successful Serpukhov metropolis territory of Moscow portion with 2 suitcases holding 190 cardinal Russian rubles successful currency ($1.7 million), the property merchandise detailed.

Officials from MVD, the Federal Security Service (FSB), and Russia’s fiscal watchdog, Rosfinmonitoring, carried retired 29 searches astatine the residences of the arrested and his accomplices successful Moscow, St. Petersburg, Novosibirsk, and Yalta. Another 50 cardinal rubles, $1 million, €70,000, machine equipment, hardware crypto wallets, luxury goods, and documents were seized.

While neither the detained person, nor the speech were named by the authorities, the crypto quality outlet Forklog quoted Indefibank CEO Sergey Mendeleev who claims the antheral is Aleksey Bilyuchenko, co-founder of Wex, erstwhile the largest crypto trading level successful Russia, which was launched successful 2017 arsenic a successor of BTC-e. The second closed down earlier that twelvemonth pursuing the apprehension successful Greece of 1 of its alleged operators, Alexander Vinnik.

Bilyuchenko’s ownership of Wex was revealed by the BBC. Another Russian, Dmitry Vasiliev, was the authoritative proprietor of the exchange. In September, the Polish property reported that Vasiliev had been arrested astatine the Warsaw airdrome connected Aug. 11 and was awaiting extradition to Kazakhstan. In December, quality came retired that helium had been released and had returned to Russia.

In 2018, Wex was sold to Dmitry Khavchenko, a erstwhile combatant for the breakaway Donetsk People’s Republic successful Ukraine who past registered the relation of the exchange, the Singapore-based institution World Exchange Services, nether the sanction of his daughter, Daria. The speech went bankrupt aboriginal that year. According to estimates by a radical of Wex users, the full losses transcend $400 million.

Do you expect different arrests successful narration to the crypto exchanges Wex and BTC-e? Tell america successful the comments conception below.

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