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Bitcoin exchange founder sentenced to prison for money laundering

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The US DOJ charged Vinnick with 17 counts of laundering as much as $four billion because the alternate was based in 2011. In the meantime, French prosecutors charged him for “extortion, conspiracy and harming computerized data-processing techniques.” French authorities imagine he helped create the ransomware “Locky,” which was unfold via e mail and was used to assault French companies and organizations between 2016 and 2018. Not less than 20 entities within the nation ended up paying ransom cash in Bitcoin to get their networks freed.

Vinnik’s facet argued in court docket that he was solely a technical operator finishing up directions from BTC-e’s administrators. Whereas the court docket nonetheless ended up convicting him for cash laundering, it’s hardly the worst-case state of affairs for Vinnick. In response to ZDNet, French prosecutors had been solely in a position to show one of many 14 fees introduced towards him, and it wasn’t the one involving Locky. Which means he was in a position to keep away from the 10-year sentence and the €750,000 high quality the prosecutors had requested.

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PJ is the Digital Marketer & Founder of PJ Digital Marketing, has involved in this field from 2010 onwards. Also the owner of a few more sites in different fields.