Two Estonian nationals have been extradited from Estonia to the U.S. to face charges for their roles in “a massive multi-faceted cryptocurrency Ponzi scheme,” according to an announcement by the U.S. Department of Justice (DOJ). Sergei Potapenko and Ivan Turõgin are accused of operating a 5 million Ponzi scheme involving the fraudulent cryptocurrency mining service […]
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Former Terraform Labs Financial Officer Has Been Extradited to South Korea — Montenegro Police
Montenegro recently extradited the former Terraform Labs financial officer Han Chang-joon to South Korea where he faces fraud-related charges. According to the Montenegro police, the decision to extradite Han was made by the country’s Justice Ministry.
Han Faces Criminal Charges in South Korea
Han Chang-joon, the former financial officer of Terraform Labs, has been extradited to South Korea, the Montenegro police have said. The extradition comes almost a year after he and Terraform Labs co-founder Do Kwon were arrested while attempting to flee the country.
According to the police, the decision to transfer Han into South Korean custody was made by the Montenegro Justice Ministry. As previously reported by Bitcoin.com News, Han and Do Kwon were arrested after authorities found them in possession of counterfeit identity documents.
They were subsequently sentenced to four months in jail for the offence. Do Kwon later appealed the verdict, but a superior court reportedly rejected his appeal in November 2023.
Explaining the government’s decision to extradite the financial officer, the Montenegro police said:
Han [was extradited to allow South Korean authorities to initiate] criminal proceedings for several criminal offences related to fraud in financial investment services, investments and the capital market, which is punishable by life imprisonment in South Korea.
However, concerning the extradition of Do Kwon, who is wanted by both South Korean and U.S. authorities, the Terraform Labs co-founder’s lawyer said they were waiting for the court to make a ruling on another appeal.
What are your thoughts on this story? Let us know what you think in the comments section below.
Report: Terraform Labs Co-Founder Do Kwon to Be Extradited to the US
Terraform Labs’ co-founder, Do Kwon, is on the brink of extradition to the United States from Montenegro. This development follows a decisive ruling by a high court and the endorsement from a top official. According to The Wall Street Journal, Justice Minister Andrej Milovic has confidentially agreed to the extradition, signifying a crucial twist in Terraform Labs’ continuing narrative and its profound repercussions on the crypto economy.
High Court Approves U.S. Extradition of Terraform Labs Co-Founder Do Kwon Amid Fraud Charges
The Wall Street Journal released an exclusive report on Thursday regarding Do Kwon’s extradition. This follows the judgment of a Montenegrin high court, which received subsequent support from Justice Minister Andrej Milovic during closed-door and private conversations. Insiders reveal that the high court has consented to the U.S.’s extradition request and plans to transfer Kwon to American soil.
The path to extradition for Kwon has been complex, with the possibility of him being extradited to either South Korea or the U.S. Though Kwon consented to be extradited to South Korea, which added complexity to the case, the ultimate decision lay in the hands of Montenegrin officials. They now appear inclined to grant the U.S.’s extradition request. The Journal’s Alexander Osipovich and Marko Vešović stated:
Montenegro’s top justice official has privately said he plans to send disgraced crypto tycoon Do Kwon to the U.S. rather than South Korea to face criminal charges, people familiar with the matter said.
The charges from the U.S. against Kwon are extensive and multifaceted, including accusations of commodities fraud, securities fraud, wire fraud, and conspiracy to commit fraud and manipulate the market. The U.S. Securities and Exchange Commission (SEC) has leveled these charges, alleging that Kwon deceived investors through his operations at Terraform Labs. Despite facing these significant legal hurdles, Kwon has steadfastly refuted all claims of fraudulent conduct.
What do you think about the insiders who say Montenegro plans to send Do Kwon to the United States? Share your thoughts and opinions about this subject in the comments section below.
Alleged Admin of Darknet Marketplace Monopoly Market Extradited to US
The suspected administrator of the Monopoly Market darknet marketplace has been extradited from Austria to face charges in the U.S. The man, a citizen of Serbia and Croatia who was arrested in Vienna last November, has been accused of facilitating million in illegal drug transactions using cryptocurrencies.
DNM Administrator Charged in U.S. With Running Drug Market on the Dark Web
Austrian authorities announced on Monday they have extradited to the United States the alleged administrator of a large darknet market (DNM) known as Monopoly Market. Milomir Desnica, a 33-year-old resident of the Serbian town of Smederevska Palanka, was handed over on Friday, the Associated Press reported.
Desnica has been accused by the U.S. Department of Justice (DOJ) of running the Monopoly Market site and facilitating million in illegal transactions related to drug trade using cryptocurrencies. The dark web marketplace was shut down in December 2021 when its servers were seized.
Last month, Europol unveiled the results of a major operation, conducted in collaboration with law enforcement agencies from Europe, the U.S., the U.K., and Brazil, which led to 288 arrests and the seizure of over million in cash and crypto assets, along with drugs and weapons.
The charges against Desnica, unsealed on May 25, were announced by the DOJ on June 23. He was indicted on July 26, 2022, by a grand jury in the U.S. District Court for the District of Columbia on charges of conspiracy to possess and distribute methamphetamine and one count of conspiracy to launder monetary instruments. The indictment also seeks confiscation of all criminal proceeds.
On the Monopoly servers seized in 2021, investigators found records of the narcotics sales facilitated by Monopoly, financial records documenting cryptocurrency payments on Monopoly, and communications with vendors which helped to identify Desnica as the DNM’s operator.
The authorities allege that between April 2020 and July 2022 Milomir Desnica used at least two crypto exchanges to convert his cryptocurrency, moving the digital money between blockchains before eventually selling it to peer-to-peer traders in Serbia for fiat in order to launder the proceeds from the drug sales.
The DOJ detailed that the drug distribution charge carries a maximum sentence of life in prison while the charge of conspiracy to commit money laundering can result in a maximum term of 20 years in prison. The charges also carry potential financial penalties, the department added.
Monopoly Market and other darknet markets have been a major target for law enforcement agencies around the world. In April 2022, police in Germany shut down what was then one of the largest DNMs, Hydra, which was focused on Russian-speaking users.
Do you think law enforcement authorities will shut down other DNMs in the near future? Share your thoughts on the subject in the comments section below.
Fugitive Crypto Exchange Founder Faruk Ozer Extradited to Turkey
Albania has extradited the founder of Turkish cryptocurrency exchange Thodex to his home country where he is charged with defrauding investors. The crypto entrepreneur disappeared after his trading platform unexpectedly went offline in the spring of 2021 and was arrested last year by Albanian law enforcement.
Albania Hands Over Alleged Crypto Fraudster to Turkish Authorities
Faruk Fatih Ozer, founder and CEO of failed crypto exchange Thodex, was extradited to Turkey by the Albanian Ministry of Justice acting on the order of the country’s Supreme Court. A plane carrying Ozer landed in Istanbul on Thursday morning, Turkish media informed.
According to a report by the Anadolu Agency, the Istanbul Airport Police Department took custody of Ozer on arrival. The 27-year-old man was then taken to a police station and is expected to undergo a health checkup.
Ozer fled Turkey after the sudden collapse of Thodex two years ago. The exchange had attracted around 400,000 users during the crypto boom in the country. He was last seen on footage from Istanbul Airport and was believed to have left for Albania with a reported billion of investor money.
Turkey issued an international arrest warrant for the chief executive of Thodex in April 2021 and he was wanted with a red notice by Interpol. Ozer has been fighting his detention in Albanian courts since his arrest on Aug. 30, 2022.
The Elbasan Court of First Instance extended his detention on Sept. 2 and the Durres Court of Appeals upheld the decision on Sept. 20. In November, The Elbasan court authorized his extradition to Turkey, which was later approved by the Supreme Court in Tirana.
Turkish authorities have charged 21 people in connection with the exchange out of over 60 detained during the investigation. Prosecutors seek prison sentences totaling thousands of years for the founders and executives accused of committing fraud and money laundering while pulling an exit scam.
Do you think Thodex founder Faruk Ozer will be convicted of his alleged crimes? Share your thoughts on the case in the comments section below.
Founder of Romanian Crypto Exchange Coinflux to Be Extradited to US on Multiple Allegations
n The founder of Romanian cryptocurrency exchange Coinflux will reportedly be extradited to the United States, based on multiple allegationsn
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Ex-BTC-e Operator Alexander Vinnik to be Extradited to France
As part of an ongoing criminal case that has drawn international attention, a Greek court has agreed today to extradite Russian cybercrime suspect and ex-Bitcoin BTC-e platform operator Alexander Vinnik to France.
The move comes after Greek authorities decided exactly where to send Vinnik, who is also wanted on criminal charges in the U.S., specifically for 21 counts of money laundering, and Russia, for fraud.
Extradition to France
Vinnik, who was arrested last year in Greece on a U.S.-issued international warrant, was the operator of the online Bitcoin platform BTC-e.
According to authorities, Vinnik used his coins to skirt the law, launder money, and defraud “thousands” of victims. Moving forward, his lawyer Ilias Spyrliadi is appealing the Greek extradition decision. He has denied doing anything illegal, and remains jailed in Greece pending final decisions on the matter, according to the Tampa Bay Times.
French authorities are charging Vinnik with cybercrime, money laundering, membership in a criminal organization, and extortion. The extradition is somewhat surprising as, previous to this move, the Greek Supreme Court had approved his extradition to the U.S. to stand trial.
And there’s more. Earlier this month, Russian authorities sent a request for Vinnik’s extradition to the country to face cyberfraud. These developments have made this case into something of a tug of war between Russia, France, and the U.S., who are all vying for him to face charges in their jurisdictions.
His lawyer Spyrliadis said that a European warrant would usually take precedence over others, putting France first in line to prosecute Vinnik. Spyrliadis added that in practice it will be up to Greece’s justice minister to decide where he ends up.
Alexander Vinnik’s Arrest
Back in July 2017 Vinnik was originally arrested in Greece, when the U.S.’s Financial Crimes Enforcement Network (FinCEN) announced a 0 million penalty against BTC-e for violating anti-money laundering (AML) laws — these charges included a million penalty for himself. Since then, the U.S. and Russia have both competed over his extradition.
In May of this year, after the U.S. extradition request was stalled, Greek law enforcement foiled an assassination attempt on Vinnik while he was incarcerated. It is suspected that the attempt was linked to a person or organization that did not want him to testify in Russia.
Furthermore, Greek authorities have reportedly rejected a request for asylum by Vinnik — and unfortunately for the international community the asylum request must be dealt with before the Greek courts can give a final ruling on the extradition. He is appealing this decision too.
France has accused Vinnik of defrauding thousands of people worldwide, including about 100 French nationals, by launching cyberattacks through his Bitcoin platform. As for the numbers, they allege he used 20,643 Bitcoin to launder around 5 million.
Also of note is that he has previously been accused of involvement in the Mt. Gox hack, which lead to the losses of over 0 million worth of Bitcoin from users of the exchange in 2014.
Featured image from Shutterstock.
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Russian cybercrime suspect in $4bn bitcoin fraud case can be extradited to US, court rules
Russia is also seeking alleged cybercriminal Alexander Vinnik’s extradition on separate fraud charges, but no date has yet been set for that hearing.
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Aleksandr Vinnik to Be Extradited over Cyber-Crimes
Earlier today, a court in Thessaloniki, Greece, approved an extradition request against Aleksandr Vinnik made by the US. The 38-year-old Russian stands accused of using the BTC-e exchange platform to launder money, as well as operating it without a license. Immediately following the ruling, the defence team filed an appeal. Vinnik’s attorney explained to RT … Continue reading Aleksandr Vinnik to Be Extradited over Cyber-Crimes
The post Aleksandr Vinnik to Be Extradited over Cyber-Crimes appeared first on NEWSBTC.
Aleksandr Vinnik to Be Extradited over Cyber-Crimes
Earlier today, a court in Thessaloniki, Greece, approved an extradition request against Aleksandr Vinnik made by the US. The 38-year-old Russian stands accused of using the BTC-e exchange platform to launder money, as well as operating it without a license. Immediately following the ruling, the defence team filed an appeal. Vinnik’s attorney explained to RT … Continue reading Aleksandr Vinnik to Be Extradited over Cyber-Crimes
The post Aleksandr Vinnik to Be Extradited over Cyber-Crimes appeared first on NEWSBTC.