Polish authorities have arrested the former executive at the request of the US
Polish authorities have detained Dmitry V., the former leader of Russia-based cryptocurrency exchange WEX, in Warsaw following a US extradition request. Dmitry V., whose full identity remains undisclosed due to local laws, is accused of involvement in fraud and money laundering linked to his role at WEX. The exchange, which succeeded the notorious BTC-e platform, shut down in 2018 under controversial circumstances.
A spokesperson for the Polish police confirmed Dmitry V. is being held in custody while the extradition process proceeds. If extradited to the US, he could face charges carrying a maximum penalty of 20 years in prison.
Dmitry V., a Russian national, has faced multiple legal troubles over the years. In 2021, he was arrested in Poland but released after 40 days due to a court decision. He was later apprehended by Interpol in Croatia in 2022, acting on a Kazakh extradition request, and had previously been detained in Italy in 2019 due to errors in a separate extradition filing.
WEX, once a major cryptocurrency exchange, has been linked to numerous scandals, including the disappearance of $450 million in user funds. The platform gained notoriety for operating with minimal identity checks, attracting funds from high-profile crypto hacks like the Mt. Gox incident. Before its collapse, WEX facilitated over $9 billion in transactions and served more than one million users, including many based in the United States.
Dmitry V.’s case follows the extradition of Alexander Vinnik, a former BTC-e leader, to the US in 2022. Vinnik, known as “Mr. Bitcoin,” pleaded guilty to conspiracy charges related to money laundering activities during BTC-e’s operation. The arrests and extraditions highlight ongoing international efforts to crack down on crypto-related financial crimes.
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