ceo

Former CEO of Crypto Exchange Wex Dmitry Vasiliev Reportedly Detained in Croatia

01/06/2022 by Idelto Editor

Dmitry Vasiliev, co-owner and former chief executive of the now defunct Russian crypto exchange Wex, has been arrested upon entering Croatia, local media reported. The crypto entrepreneur is wanted by Kazakhstan where he is accused of stealing money from an investor.

Wex Executive Vasiliev Apprehended at the Airport in Zagreb

Belarus-born Dmitry Vasiliev, former CEO of Wex, once the largest crypto trading platform in the former-Soviet space, has been detained at Franjo Tudjman Airport in the Croatian capital on Wednesday, May 25, the Jutarnji List reported.

According to the daily, the authorities in Zagreb have acted on a red warrant issued by Interpol on a request from Kazakhstan. Vasiliev, who resides in the Russian Federation, is wanted in the Central Asian country for defrauding an investor of $20,000.

Kazakhstan’s law enforcement has been seeking Vasiliev’s extradition for some time, but the crime he is accused of there is relatively minor compared to other suspected offenses. Wex went bankrupt in 2018 and according to estimates by a group of users, the total losses exceed $400 million.

The news of Vasiliev’s detention in Croatia comes after in September last year, the Polish press revealed he had been arrested at the Warsaw airport in mid-August and was awaiting extradition to Kazakhstan. In December, it was reported he had returned to Russia following his release.

The crypto businessman was also temporarily apprehended in Italy some two years ago, but Italian authorities let him go after several weeks, citing faults in the extradition request. He was able to return to St. Petersburg, Russia’s second-largest city, where he lives.

In March 2022, the Russian Ministry of Internal Affairs announced the arrest of a man accused of stealing financial assets from a cryptocurrency exchange. While neither the person nor the platform were identified, a report suggested this was Aleksey Bilyuchenko, another Wex co-founder.

In 2017, Wex was established as successor of the infamous BTC-e exchange which had closed down earlier that year after the arrest in Greece of one of its alleged operators, Alexander Vinnik. The U.S. accuses him of laundering up to $9 billion through the trading platform. Vinnik was extradited to France, where he was sentenced to five years in prison in December 2020, and is also wanted by Russia.

Do you think Dmitry Vasiliev will be released again by the authorities in Croatia? Tell us in the comments section below.

Poland Confirms Arrest of Former Wex Exchange Executive in Warsaw

21/09/2021 by Idelto Editor

Reports of the detention of Dmitry Vasiliev, ex-head of the bankrupt cryptocurrency exchange Wex, have been confirmed by authorities in Poland. The former executive of the platform, allegedly involved in the theft of funds worth millions of dollars, faces possible extradition to Kazakhstan.

Prosecutor’s Office Confirms Vasiliev Is in Custody in Poland

Dmitry Vasiliev, who once managed the largest Russian crypto exchange, was apprehended at the Warsaw airport in early August but the Polish newspaper Gazeta Wyborcza broke the news last week, quoting undisclosed sources. A representative of the regional Prosecutor’s Office in the capital city has now confirmed the arrest to Russia’s RIA Novosti news agency.

The 34-year-old Russian citizen headed the now-defunct Wex, a successor of the infamous BTC-e exchange, before it was sold to a Ukrainian businessman-turned separatist fighter, Dmitry Havchenko, in late 2018. The digital asset trading platform halted withdrawals earlier that year and eventually went bankrupt.

While Vasiliev officially owned Wex’s Singapore-based operator, the BBC Russian Service has previously revealed that Wex belonged to Aleksey Bilyuchenko, a partner of BTC-e alleged administrator Alexander Vinnik. The Russian IT specialist, accused of laundering up to $9 billion through BTC-e, was sentenced this past December to five years in prison by France which rejected Vinnik’s extradition to Russia.

Polish police detained the former Wex CEO with help from Interpol, the International Criminal Police Organization. The Warsaw Prosecutor’s Office official noted that a “request for the extradition of Dmitry V. was sent by Kazakhstan.” Vasiliev is wanted in the Central Asian country since 2019 on accusations of fraud related to the exchange. Poland is yet to decide whether to hand him over.

The crypto entrepreneur has been in custody since Aug. 11, when Polish authorities placed him under temporary arrest for an initial period of 40 days. Dmitry Vasiliev is suspected of involvement in the disappearance of $450 million worth of assets belonging to citizens of EU member states and other countries around the world.

On Monday, someone ordered the transfer of 9,916 ETH, worth over $30 million, from a wallet belonging to Wex, crypto news outlet Forklog reported. The transaction, still pending confirmation at the time of writing, has been initiated after 100 ETH were withdrawn from the wallet on Sept. 15. The publication noted that was the first movement of funds in the wallet in the past three years.

Do you expect other countries to request Dmitry Vasiliev’s extradition? Tell us in the comments section below.

Ex-Head оf Wex Crypto Exchange Reportedly Arrested in Poland, Faces Extradition to Kazakhstan

19/09/2021 by Idelto Editor

Dmitry Vasiliev, former chief executive of Russian cryptocurrency exchange Wex, has been detained in Warsaw, the Polish press reported. Vasiliev is wanted in Kazakhstan where he is accused of fraud related to the now defunct trading platform, successor of the infamous BTC-e exchange.

Former Wex Executive in Polish Custody as Prosecutor’s Office Reviews Extradition Request

Ex-owner and CEO of Wex Dmitry Vasiliev was detained at the Warsaw airport on Aug. 11, the leading Polish newspaper Gazeta Wyborcza revealed this week. According to sources quoted by the publication, the 34-year-old native of Belarus has been placed under arrest for 40 days.

Poland’s National Public Prosecutor’s Office is now considering his extradition to Kazakhstan. Authorities in the Central Asian country have been looking for Vasiliev through Interpol for several years as part of ongoing investigation on fraud charges.

In its report on the case, the BBC Russian Service said Polish police had declined to comment on the information about the case. However, rumors of Vasiliev’s detention have been circulating among Wex’s clients since August and a close acquaintance of his has confirmed to the BBC that he was indeed in Polish custody.

This isn’t Dmitry Vasiliev’s first arrest in Europe. Two years ago, he was detained in Italy but managed to eventually return to the Russian Federation where he resided permanently in the city of Saint Petersburg. Italian authorities released him after several weeks in detention, citing faults in his extradition request.

Dmitry Vasiliev’s BTC-e Connection

Wex, once the largest crypto trading platform in the Russian-speaking world, was launched in the fall of 2017 as a successor of BTC-e. The infamous exchange closed down earlier that year following the arrest of one of its alleged operators, Alexander Vinnik, in Greece. Vinnik is accused by the U.S. of laundering up to $9 billion through BTC-e. He was sentenced to five years in prison by a French court in December.

According to the Russian business news portal RBC, Wex had reached a daily turnover of $80 million before it went offline. In 2018, its operator, the Singapore-based entity World Exchange Services, was sold to Dmitry Havchenko, an entrepreneur from Kyiv turned separatist fighter in Eastern Ukraine. While Dmitry Vasiliev was the company’s official owner, BBC claims Wex actually belonged to Aleksey Bilyuchenko, Vinnik’s partner at BTC-e.

After being in and out of service for months, during which it also changed its web address several times, Wex halted withdrawals in the summer of 2018 and later went bankrupt. According to estimates by a group of Wex users quoted by Forklog, total losses exceed $400 million with Vasiliev himself suspected of withdrawing $200 million. He is wanted in Kazakhstan after a trader from Almaty turned to local law enforcement accusing the Belarusian of stealing $20,000 worth of funds through Wex.

According to the report, 100 ETH have been recently withdrawn from a wallet belonging to Wex that has a remaining balance of over 9,900 ETH. The digital currency was transferred to Binance, the first such transaction in the past three years. In 2018, the world’s leading crypto exchange blocked an account that had received 93,000 ETH from wallets associated with Wex.

Do you expect Poland to extradite former Wex executive Dmitry Vasiliev to Kazakhstan? Tell us in the comments section below.

Crypto Exchange Binance.us Hires Former Financial Regulator

08/07/2021 by Idelto Editor

Binance.us has hired Manuel Alvarez, a former financial regulator from California, to work as its chief administrative officer. The San Francisco-based crypto exchange, which sources technology from Binance, is aiming to deal with “the big question” — compliance.

Binance.us Filling Roles in Compliance, Risk Management, and Legal

Binance.us, powered by matching engine and wallet technologies licensed from the world’s leading coin trading platform, announced the appointment of Alvarez in a statement released this week. The exchange’s new chief administrative officer has previously served as the commissioner of the California Department of Financial Protection and Innovation, Bloomberg reported.

Manuel Alvarez will join the company on July 22 and report to its CEO Brian Brooks, himself a former bank regulator. Brooks, who was acting head of the Office of the Comptroller of the Currency (OCC), took his post at Binance.us in May this year.

Since then, Brian Brooks has been building his team, almost doubling the staff. He plans to employ more professionals for the exchange’s compliance, risk management, and legal departments in the next few months. Commenting on the latest hire, the chief executive stated:

Bringing on someone like Manny, who was the regulator responsible for the protection of over 40 million consumers, shows not only do we take this seriously, but we’re not going to be defensive about compliance and consumer protection.

Brooks added that Binance.us will continue to go after “the very best talent” and “the very most-senior people” for the respective “super important” functions. The company is expanding its workforce in a period of increased scrutiny over the crypto space, with exchanges under pressure from regulators around the world.

Binance Holdings, the company with which Binance.us shares a common founder and name, is now facing regulatory actions in Thailand, the U.K., and Japan. Binance.us is a separate entity from Binance, Brian Brooks noted. In his view, the calls for regulation aren’t bad signs and the market now needs basic frameworks. He emphasized:

Exchanges such as Binance.us have to navigate the big question of compliance.

“How do you allow decentralization to occur, how do you bring these assets to the market, while ensuring good risk management, compliance with law, the disclosure of what you’re selling to your customers and those kind of things?” Brooks said in an interview with Bloomberg Television.

Binance.us, which is operated by the San Francisco-based BAM Trading Services, allows its users in the United States to buy and sell more than 50 cryptocurrencies, including bitcoin (BTC), bitcoin cash (BCH), ethereum (ETH), and the BNB token. CEO Brian Brooks revealed the exchange could eventually go public in the next four years.

What do you think about Binance.us hiring a former financial regulator as its chief administrative officer? Tell us in the comments section below.

Nexinter – Profit Sharing Crypto Exchange

18/11/2019 by Idelto Editor

Nexinter launch as the first profit sharing fiat-crypto and custodian exchange in the world.

Today, Nexinter, the digital fiat-crypto and custodian exchange, has announced that it will be the first profit sharing digital exchange in the world. 75% of the Nexinter’s profits from any operation or revenue stream on the platform will be returned to the community in a reward system.

There will be two components that determine the reward to the community: time and volume. The time reward component will be active in 2020, and the more days an individual is active on the Nexinter Exchange, the higher the reward, thus benefiting early adopters. From 2020, the reward volume will come into effect. 60% of the profits generated will be rewards to users based on their volume pro rata. This will not depend on when they signed up but the volume the individual has generated on the platform throughout the year. After 2020, the whole 75% of the profits will be committed to the Volume Reward Fund as the Time Reward Component ends.

Daniele Mensi, CEO of Nexthash Group, commented: ‘This announcement is a huge step forward for us, the market, and the global financial arena. With more institutional and retail investors becoming disenfranchised by the current reward systems, we are introducing a new way of conducting sustainable business whilst rewarding the community, that is the main controbutor of growth. We hope other actors, particularly in the traditional and fintech space, learn from our lead and work together with us to provide an inclusive environment for all. The paradigm shift we are introducing is to reward the community regardless of their performance towards markets, that is a key driver of a brand-new sustainable open growth.”

Nexinter has lately launched their fully compliant NIXT growth token on top of bitcoin cash network to drive truly engagement interactions with its community and has lately announced the structuring of digital securities offering for their clients.

Contact Email Address
[email protected]

Supporting Link
https://nexthash.com/

The post Nexinter – Profit Sharing Crypto Exchange appeared first on Bitcoin News.