Alleged BTC-e Mastermind Confesses to Russian Money Laundering Charges

Alleged BTC-e Mastermind Confesses to Russian Money Laundering Charges

According to regional publications in Russia, the alleged BTC-e mastermind and prisoner in Greece, Alexander Vinnik, has allegedly confessed to charges of fraud and money laundering on May 24, 2018. Reports reveal a signed document details that Vinnik admits to committing financial fraud between 2011-2017 through the BTC-e cryptocurrency exchange.

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Russian Federation Receives an Admission of Guilt from the Alleged BTC-e Mastermind Alexander Vinnik

Russian media sources such as Interfax and Vinnik’s lawyer, Ilias Spirliadis, have reported that Alexander Vinnik has signed a paper that admits to wrongdoing, in regard to money laundering and other cyber crimes. The publication Crime Russia explains that the Russian Federation’s Prosecutor General’s Office received the admission document and passed it on to higher law enforcement officials in Moscow.

The document appears to be a “full confession” to financial fraud using the BTC-e exchange between 2011-2017. The fraudulent activities had caused Russian residents to lose upwards of 750 million rubles ($12.4Mn USD) the document details. Further regional media sources report that Vinnik also confessed to other crimes tethered to computer hacking. Sources say this document may give the Russian Federation the means to extradite Vinnik. The United States government had previously attempted to extradite Vinnik to the U.S. but the motion was challenged.

Alleged BTC-e Mastermind Confesses to Russian Money Laundering Charges
Photo of the accused BTC-e administrator Alexander Vinnik. The Russian citizen has been dubbed the ‘Russian Cryptocurrency King’ by the media.

Vinnik’s Lawyer Ilias Spirliadis: The Russian Federation Will Likely Follow Up With Another Extradition Attempt

Last week officials from the Greek prison where Vinnik is locked up, uncovered a plot that aimed to kill Vinnik. The suspect now has “special security measures,” including not eating and drinking products given to him from unfamiliar individuals. It’s still uncertain at the moment what Greek court officials will do if Russia attempts to extradite Vinnik again after his admission. The document is now in the hands of officials from the police department in the Ostankino district of Moscow.

Vinnik’s lawyer Ilias Spirliadis confirmed the admission document was legitimate and also emphasized that the Russian Federation will likely submit another request for extradition.


Allen Scheid is a American Literature major from California with a background in writing. Growing interested in Bitcoin and cryptocurrencies in late 2017.

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