Bitcoin exchange founder sentenced to prison for money laundering

The DOJ believes Alexander Vinnick ran BTC-e as a front for a money laundering operation. Source: https://www.engadget.com/bitcoin-alexander-vinnick-prison-money-laundering-083053555.html Alexander Vinnick, the Russian man who founded and ran the now-defunct Bitcoin exchange service BTC-e, has been sentenced to five years in prison. A Paris court has found Vinnick guilty of money laundering and has ordered him to pay €100,000 (US$121,000) in fines. Vinnick was arrested in Greece back in 2017 under an international warrant issued by the US Department of Justice and was extradited to France earlier this year. The Justice Department accused Vinnick of operating BTC-e as a front for a massive money Read more…

Chinese police seized crypto assets worth $4.2B today from PlusToken Ponzi

Source: https://cointelegraph.com/news/chinese-police-seized-crypto-assets-worth-4-2b-today-from-plustoken-ponzi PlusToken controversy, which has led to the arrest of 109 individuals so far, has also reportedly resulted in a titanic seizure of crypto assets by Chinese authorities worth $4.2 billion at today’s prices. According to court filings released publicly on Nov. 19 and posted by The Block, authorities seized a staggering 194,775 Bitcoin (BTC), 833,083 Ether (ETH), 1.4 million Litecoin (LTC), 27.6 million EOS, 74,167 Dash, 487 million XRP, 6 billion Dogecoin (DOGE), 79,581 Bitcoin Cash (BCH) and 213,724 Tether (USDT) from seven individuals convicted in the case. According to the ruling from the Yancheng Intermediate People’s Court, gains from the seized Read more…

Binance Exiting The US – Gives 14 Days to Leave Exchange

Source: https://decrypt.co/49317/binance-gives-us-users-14-days-to-leave-exchange In brief Some Binance users in the US have received emails giving them 14 days to transfer their holdings out of the exchange. According to the email, if they fail to do so, their account will be locked. This is an escalation of earlier efforts to keep US users off the exchange. Binance is again clamping down on US-based customers. And this time, it might really mean it. The world’s largest cryptocurrency exchange has begun sending email notifications to users in the US, where Binance has no regulatory standing, giving them 14 days to close their account. “Dear Read more…