By Nermeen Nabil Khear 
The United States authorities have released Russian cybercriminal Alexander Vinnik to Russia as part of an exchange with American schoolteacher Marc Fogel regaining his freedom.
According to reports, Vinnik arrived in Moscow on a flight from Turkey after he was released from custody in California. The Russian cybercriminal was accused of owning and operating one of the biggest exchanges globally. According to prosecutors, the exchange was used to facilitate and launder funds for criminals, with the tune of funds going into billions of dollars.
Alexander Vinnik was first arrested in Greece in 2017 on several charges including a 21-count indictment for operating an alleged international money laundering scheme. He was also indicted for helping criminals launder funds from the hacked platform Mt. Gox. The chief in charge of the investigation mentioned at the time that he carried out activities beyond the scope of a legal crypto exchange. Aside from money laundering, he carried out identity theft and helped traffic drugs worldwide.
US authorities release Russian cybercriminal
According to records, Vinnik was first extradited to France after he was apprehended in Greece. He was subsequently handed a five-year sentence for his crimes. He was then sent back to Greece before being extradited to the United States in 2022 to face his crimes.
During the proceedings, Vinnik pleaded guilty to crimes related to money laundering and how he operated the BTC-e cryptocurrency exchange from 2011 to 2017. According to court filings, Vinnik was one of the administrators on the website during the period, with investigations showing that the platform processed $9 billion in transactions, servicing several clients, including customers in the United States.
The platform was a safe haven for criminals as they sent funds gotten from illicit transactions and activities to the platform to be processed. The platform received funds from numerous ransomware payments, identity thefts, Including funds from some corrupt officials looking to hide embezzled funds. While promoting the platform and carrying out the activities, Vinnik was responsible for losses estimated to be around $121 million.
Authorities also alleged that the platform was unregistered in the United states, hence, it was illegal to offer services to users in the country. Aside from that, it also lacked the basic anti-money laundering requirements and also did not have a strict KYC policy. Vinnik was set to have set up numerous shell companies, owning accounts globally which helped BTC-e conduct its business without itch.
American schoolteacher set to return home
As part of the prisoner swap that freed Alexander Vinnik, American schoolteacher Marc Fogel will be freed by Russian authorities, returning home to his family in the United States. According to a previous report, Vinnik’s legal representatives were trying to include him in a potential prisoner swap that would involve freeing detained Wall Street Journal reporter Evan Gershkovich.
Fogel, who had been held in Russia since 2021, was sentenced to 14 years in prison on drug trafficking charges. Fogel was arrested at the Moscow airport after officials discovered that he was carrying less than an ounce of Marijuana in his luggage. In a statement to reporters, President Trump noted that the release was an important step to end the country’s war with Ukraine, adding that the United States did not give up too much for Fogel’s release.
He added that the United States was treated well by Russia, and he hopes it is the start of a cordial relationship that will see to the end of the war with Ukraine. “The US and Russia negotiated an exchange that serves as a show of good faith from the Russians and a sign we are moving in the right direction to end the brutal and terrible war in Ukraine,” Trump’s national security adviser, Mike Waltz said. Vinnik’s sentencing was scheduled to take place in June, but the exchange will see him forfeit millions of dollars in assets, according to a New York Times report.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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