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The case of the hundreds of thousands of bitcoins (BTC) stolen on MtGox seems interminable, since the closure of this exchange platform in 2014. The authorities of New Zealand have however just made their contribution, freezing $ 90 million of BTC, believed to have been laundered through Alexander Vinnik.
Court troubles continue for Vinnik
Alexander Vinnik is a Russian-born IT expert linked to the former BTC-e trading platform, which has been a hub for laundering stolen bitcoins on MtGox.
The 37-year-old man, accused of money laundering by at least 3 countries (France, United States, Russia), has always defended himself and presented himself as a simple employee and technician of BTC-e, and not as its manager .
But that did not convince the judicial authorities, and Alexander Vinnik ended up being arrested in the summer of 2017 in Greece, while he was staying there for vacation. Since then, he has fought to be extradited to Russia (his native country), but in early 2020, and despite his hunger strike, Vinnik was finally extradited to France.
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According to local newspaper New Zealand Herald, New Zealand authorities have just blocked the equivalent of $ 90 million from a company linked to the Vinnik investigation.
Part of the concealment of bitcoins from MtGox seized?
Vinnik is accused of laundering 300,000 BTC (including those of MtGox) in six years of activity on the BTC-e platform. The $ 90 million seized by the New Zealand asset recovery unit would represent part of the stash of these bitcoins, which were owned by a local company called "WME Capital Management Ltd".
Police Commissioner Andrew Coster spoke on the case, which turns out to be the largest seizure of funds ever by authorities in the country:
“New Zealand police have worked closely with the United States Internal Revenue Service (IRS) to tackle this very serious crime (...) These funds are likely to reflect the profits from the spoliation of thousands , or even hundreds of thousands of people around the world, as a result of cybercrime and organized crime. "
These elements are likely to support a possible extradition of Alexander Vinnik to the United States after his trial in France. If so, he could face sentences of up to 55 years in prison.
The soap opera MtGox is still far from finished, but this latest twist is proof that the investigation is continuing. From there until the light is completely shed, and that the injured users of MtGox are reimbursed, it may however take some time.
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