Wex Exchange Co-Owner Reportedly Detained in Russia

Authorities in Russia obtain arrested a crypto entrepreneur linked to an unidentified cryptocurrency alternate who’s suspected of embezzling funds and property. In step with a media file, the detained particular person is one amongst the householders of Wex, successor of the substandard BTC-e alternate.

Owner of Wex Alternate Apprehended in Russia

Russian law enforcement companies obtain detained a man accused of stealing financial and other resources from a cryptocurrency alternate, the Ministry of Interior Affairs (MVD) announced Tuesday. The suspect allegedly managed mountainous amounts in cryptocurrency and their circulate between wallets.

Investigators exclaim he withdrew one of the indispensable funds and appropriated them. The particular person used to be handcuffed on the resort of a non-public airfield in Serpukhov city district of Moscow region with two suitcases maintaining 190 million Russian rubles in money ($1.7 million), the click originate detailed.

Officers from MVD, the Federal Safety Provider (FSB), and Russia’s financial watchdog, Rosfinmonitoring, applied 29 searches on the residences of the arrested and his accomplices in Moscow, St. Petersburg, Novosibirsk, and Yalta. One other 50 million rubles, $1 million, €70,000, computer instruments, hardware crypto wallets, luxury goods, and documents had been seized.

Whereas neither the detained particular person, nor the alternate had been named by the authorities, the crypto news outlet Forklog quoted Indefibank CEO Sergey Mendeleev who claims the man is Aleksey Bilyuchenko, co-founder of Wex, once the top crypto purchasing and selling platform in Russia, which used to be launched in 2017 as a successor of BTC-e. The latter closed down earlier that year following the arrest in Greece of 1 in all its alleged operators, Alexander Vinnik.

Bilyuchenko’s possession of Wex used to be printed by the BBC. One other Russian, Dmitry Vasiliev, used to be the legitimate owner of the alternate. In September, the Polish press reported that Vasiliev had been arrested on the Warsaw airport on Aug. 11 and used to be staring at for extradition to Kazakhstan. In December, news came out that he had been released and had returned to Russia.

In 2018, Wex used to be sold to Dmitry Khavchenko, a used fighter for the breakaway Donetsk Folks’s Republic in Ukraine who then registered the operator of the alternate, the Singapore-essentially based firm World Alternate Providers, under the name of his daughter, Daria. The alternate went bankrupt later that year. In step with estimates by a community of Wex users, the total losses exceed $400 million.

Tags in this fable

Arrest, BTC-e, co-owner, Crypto, crypto alternate, crypto exchanges, Cryptocurrencies, Cryptocurrency, detention, Alternate, Exchanges, operator, owner, accomplice, Russia, russian, Wex

Comprise you attach a matter to other arrests with regards to the crypto exchanges Wex and BTC-e? Show us in the comments fragment under.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Jap Europe who likes Hitchens’s quote: “Being a creator is what I’m, as a change of what I attain.” Moreover crypto, blockchain and fintech, global politics and economics are two other sources of inspiration.

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