The leader of Bitcoin exchange BTC-e, Alexander Vinnik, was indited by a US jury on charges of money laundering. He was recently arrested in Greece based on a request from authorities in the US and he's allegedly been involved in money laundering through BTC-e for years.
His exchange dealt with a total of $4 billion during its lifetime and was often used by people involved with crimes like drug trafficking.
Because it did a lot of business in the US and never sufficiently protected against money laundering, its leader has been arrested.
The US Financial Crimes Enforcement Network has implemented a $110 million penalty against BTC-e and a $12 million fine against Vinnik.
BTC-e quickly became the virtual currency exchange of choice for criminals looking to conduct illicit transactions or launder illicit proceeds, all of which BTC-e failed to report both to FinCEN and law enforcement.- US Financial Crimes Enforcement Network
Authorities in Greece described him as an "internationally sought mastermind of a crime organization."
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