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Russian Hacker Sentenced 5 Years in Prison for Money Laundering

Russian Hacker Sentenced 5 Years in Prison for Money Laundering
  • A Paris court sentenced Russian hacker Alexander Vinnik to five years in prison.
  • Vinnik made 135 million euros ($164 million) from ransomware attacks.
  • Moreover, he must pay 100,000 euros ($121,000) as a fine.
  • Also, the New Zealand police had seized funds worth $91 million from another Russian man.

Russian hacker Alexander Vinnik reportedly received a sentence of five years in prison by a Paris court for money laundering and also for providing false data about the origin of the proceeds.

Paris Court Sentenced Russian Hacker in Prison

Vinnik, the owner of the Russian cryptocurrency exchange BTC-e, made 135 million euros ($164 million) from ransomware attacks. This called for a 10-year sentence against the 41-year-old man when the trial opened in October. However, the court cleared him of the ransomware attack charges.

Lawyer Frederic Belot said,

All these accusations have collapsed because Alexander Vinnik had nothing to do with them.

Despite that, the court found him guilty of laundering the money.  He allegedly used a malware called Locky to extract funds. Additionally, the court fined him 100,000 euros ($121,000).

Furthermore, Vinnik faces 21 charges from US law agencies accusing him of money laundering worth billions of dollars in criminal groups, identity theft, and facilitating drug trafficking. Moreover, he denied all the aforementioned accusations previously.

Additionally, Vinnik had gone on a strike demanding to be extradited to Russia where he faced lesser fraud charges for the amount of 9,500 euros ($11,200). Also, New Zealand police had seized funds worth $91 million from a Russian man in June. Police claim that these cryptocurrency funds were held by the Canton Business Corporation, which allegedly operated the now-defunct BTC-e exchange.

Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.