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The New Zealand authorities confiscate $ 90 million from suspected bitcoin launderer Alexander Vinnik

June 22, 2020

The New Zealand police have recovered $ 90 million related to the case the alleged Bitcoin money launderer, Alexander Vinnik.

According to Jared Savage of the New Zealand Herald, The police asset recovery unit has frozen approximately $ 140 million ($ 90 million) controlled by a company in connection with the Vinnik investigation.

Police Commissioner Andrew Coster told the publication that Local authorities have coordinated with the United States Internal Revenue Service to deal with lost funds.

The New Zealand authorities confiscate $ 90 million from suspected bitcoin launderer Alexander VinnikThe New Zealand authorities confiscate $ 90 million from suspected bitcoin launderer Alexander Vinnik

The money recovered “probably reflects the benefits of victimizing thousands, if not hundreds of thousands, of people around the world as a result of cyber crime and organized crime, “said Coster.

Money laundering and arrest

Vinnik has been accused of laundering 300,000 Bitcoin (BTC), approximately $ 4 billion, over BTC-e for six years, one of the largest cryptocurrency exchanges in the world at the time. Some of the poorly received funds may even come from the notorious Japanese stock exchange hack Mt. Gox.

The Russian citizen known as “Mr. Bitcoin” was arrested during a vacation in Greece in 2017 and extradited to France earlier this year.. At the time of the press conference, Vinnik is still in France, awaiting charges of money laundering, extortion and conspiracy. However, it could be delivered to the United States or its home country Russia.