BTC-e founder pleads guilty in $9 billion laundering conspiracy

A federal district court judge will determine his sentence in accordance with the U.S. Sentencing Guidelines and other statutory factors.

Alexander Vinnik, the Russian co-founder of an allegedly illicit crypto exchange, BTC-e, has admitted guilt in a money laundering conspiracy involving cryptocurrency exchange. This admission follows a broader investigation revealing extensive illegal activities on the exchange from 2011 to 2017.

The United States Justice Department (DOJ) reported that during Vinnik’s leadership, BTC-e processed more than $9 billion in transactions and had a user base exceeding one million globally, with many users from the United States. A federal district court judge will determine his sentence in accordance with the U.S. Sentencing Guidelines and other statutory factors.

The U.S. Department of Justice highlighted that the platform was utilized to launder funds acquired from various criminal activities, including computer hacking, ransomware attacks, and drug trafficking.

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