Wex Exchange Co-Owner Reportedly Detained in Russia– Exchanges Bitcoin News

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Authorities in Russia have actually jailed a crypto business owner related to an unknown cryptocurrency exchange who is thought of embezzling funds and residential or commercial property. According to a media report, the apprehended individual is among the owners of Wex, follower of the notorious BTC-e exchange.

Owner of Wex Exchange Apprehended in Russia

Russian police have actually apprehended a male implicated of taking other and monetary possessions from a cryptocurrency exchange, the Ministry of Internal Affairs (MVD) revealedTuesday The suspect supposedly regulated big quantities in cryptocurrency and their motion in between wallets.

Investigators think he withdrew a few of the funds and appropriated them. The individual was handcuffed at the hotel of a personal airfield in Serpukhov city district of Moscow area with 2 travel suitcases holding 190 million Russian rubles in money ($ 1.7 million), journalism release detailed.

Officials from MVD, the Federal Security Service (FSB), and Russia’s monetary guard dog, Rosfinmonitoring, performed 29 searches at the homes of the jailed and his accomplices in Moscow,St Petersburg, Novosibirsk, andYalta Another 50 million rubles, $1 million, EUR70,000, computer system devices, hardware crypto wallets, high-end products, and files were taken.

While neither the apprehended individual, nor the exchange were called by the authorities, the crypto news outlet Forklog estimated Indefibank CEO Sergey Mendeleev who declares the male is Aleksey Bilyuchenko, co-founder of Wex, as soon as the biggest crypto trading platform in Russia, which was released in 2017 as a

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