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Russian cybercriminal Alexander Vinnik is being released from U.S. custody in exchange for Marc Fogel
- Russian cybercriminal Alexander Vinnik is being released from U.S. custody in exchange for Marc Fogel, a decision reportedly made by the Trump administration.
- Vinnik, a Russian national, pleaded guilty to money laundering charges related to operating the cryptocurrency exchange BTC-e from 2011 to 2017, processing over $9 billion in transactions and serving over a million users globally.
- In July 2017, law enforcement shut down BTC-e, which received criminal proceeds from various illegal activities, including computer intrusions, ransomware attacks, and identity theft.
- Vinnik was accused of promoting unlawful activities through BTC-e, leading to at least $121 million in losses.
- Greek authorities arrested Vinnik in 2017 for laundering billions worth of cryptocurrency through the BTC-e Bitcoin exchange.
- French authorities accused Vinnik of hacking, money laundering, extortion, and involvement in organized crime, defrauding more than 100 individuals and businesses globally.
- Vinnik denied charges of extortion and money laundering and returned to Greece before extradition to the U.S., where he must forfeit seized money as part of the exchange.
- The U.S. also charged Aliaksandr Klimenka, linked to BTC-e, with money laundering conspiracy and operating an unlicensed money services business.
- Vinnik's release, negotiated as a gesture by Trump and Putin for peace talks, has sparked disappointment among government officials regarding the potential impact on cybercrime.
- The exchange involving Vinnik and Fogel has raised concerns about emboldening cybercriminals and ransomware actors, according to U.S. law enforcement.
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