Following an extradition request submitted by the United States Department of Justice, a former CEO of the Russian cryptocurrency platform WEX, identified under the pseudonym Dmitry V., was reportedly arrested by Polish authorities.
WEX, notorious for operating with minimal identity verification and facilitating transactions linked to cryptocurrency thefts, including the Mt. Gox hack, has left a dark legacy.
The platform reportedly handled over $9 billion in transactions and served more than a million users globally, including a large user base in the United States.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe – We publish new crypto explainer videos every week!
How Can You Earn Money With Axie Infinity? (AXS Animated Explainer)
WEX’s collapse was marked by the disappearance of approximately $450 million in funds.
Dmitry V. is accused of engaging in fraudulent activities and money laundering during his tenure at WEX.
He was initially detained in Poland in August 2021 but was released after 40 days following a court ruling. A year later, in the summer of 2022, Interpol arrested him at Zagreb Airport in Croatia in response to an extradition request from Kazakhstan.
According to a spokesperson for the Polish police, Dmitry V. remains in custody while legal proceedings regarding his extradition unfold.
Should he be extradited to the United States, he could face charges that carry a maximum penalty of 20 years in prison.
The crackdown on crypto-related crimes doesn’t stop with WEX. Just recently, a crypto Ponzi scheme promoter faced a hefty prison sentence for defrauding investors. What led to this downfall? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
