A 22-year-old has pleaded guilty in a $263 million Bitcoin and crypto scheme, admitting to orchestrating a large-scale fraud that duped investors and laundered digital assets across multiple platforms.
In a significant turn of events, MyTrade takes the lead in accepting guilt among a cluster of accused firms for market manipulation.
**BTC-e Co-founder Admits to Laundering Billions in Crypto**
Alexander Vinnik, the mastermind behind the infamous BTC-e exchange, has confessed to a staggering money laundering scheme involving over $9 billion in cryptocurrency. Arrested in Greece in 2017 and extradited to the US in 2020, Vinnik has now pleaded guilty to the charges.
Under the plea agreement, Vinnik faces a maximum of five years behind bars, a hefty fine of up to $10 million, and a restitution order of up to $100 million. However, the court’s approval is still pending
Ryan Salame, a former executive of FTX, is facing a possible forfeiture of $1.5 billion for his role in defrauding investors after he entered a plea of guilty to federal charges.