{"id":20540,"date":"2023-06-09T13:10:06","date_gmt":"2023-06-09T17:10:06","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/us-justice-department-charges-two-russian-nationals-with-stealing-thousands-of-bitcoin-linked-to-mt-gox\/"},"modified":"2023-06-09T13:10:08","modified_gmt":"2023-06-09T17:10:08","slug":"us-justice-department-charges-two-russian-nationals-with-stealing-thousands-of-bitcoin-linked-to-mt-gox","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=20540","title":{"rendered":"US Justice Department Charges Two Russian Nationals With Stealing Thousands of Bitcoin Linked to Mt. Gox"},"content":{"rendered":"<div>\n<p>The US Department of Justice unsealed charges against Russian nationals Alexey Bilyuchenko and Aleksandr Verner, for allegedly stealing thousands of bitcoin from the Mt.Gox crypto exchange back in 2011 to 2014.\u00a0<\/p>\n<p>Bilyuchenko, 43, and Verner, 29, were charged on Friday in the Southern District of New York \u201cwith conspiring to launder approximately 647,000 bitcoins,\u201d which the <u>department<\/u> said was the majority of the bitcoins belonging to Mt. Gox\u2019s customers.\u00a0<\/p>\n<p>Bilyuchenko and Verner \u201cused their unauthorized access to Mt. Gox\u2019s server to fraudulently cause bitcoins to be transferred from Mt. Gox\u2019s wallets to bitcoin addresses controlled by Bilyuchenko, Verner, and their co-conspirators,\u201d the Justice Department said.<\/p>\n<p>They then laundered much of the stolen bitcoins through addresses associated with accounts under their names, the department said.\u00a0<\/p>\n<p>\u201cAs alleged in the indictment, the defendants gained unauthorized access to a server used by Mt. Gox to house cryptocurrency wallets.\u00a0 Mt. Gox was the world\u2019s largest bitcoin exchange at the time, and the defendants used their unauthorized access to steal the bulk of the bitcoins held by Mt. Gox customers,\u201d said FBI Assistant Director in Charge Michael J. Driscoll, in a statement.<\/p>\n<h2>BTC-e exchange<\/h2>\n<p>Bilyuchenko also worked with Alexander Vinnik and others to operate the BTC-e exchange from 2011 until it was later shut down by law enforcement in July 2017, the department said.\u00a0<\/p>\n<p>BTC-e exchange was a crypto trading platform that <u>allowed<\/u> its users to trade bitcoin with anonymity.\u00a0<\/p>\n<p>\u201cThis announcement marks an important milestone in two major cryptocurrency investigations.\u00a0 As alleged in the indictments, starting in 2011, Bilyuchenko and Verner stole a massive amount of cryptocurrency from Mt. Gox, contributing to the exchange\u2019s ultimate insolvency.\u00a0 Armed with the ill-gotten gains from Mt. Gox, Bilyuchenko allegedly went on to help set up the notorious BTC-e virtual currency exchange, which laundered funds for cyber criminals worldwide,\u201d said the Justice Department\u2019s Assistant Attorney General Kenneth A. Polite, Jr. in a statement on Friday.\u00a0<\/p>\n<p>If convicted on the conspiracy to commit money laundering, each of the defendants \u2014 Bilyuchenko and Verner \u2014\u00a0could face up to 20 years in prison.\u00a0<\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/us-justice-department-charges-two-russian-nationals-with-stealing-thousands-of-bitcoin-linked-mt-gox.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US Department of Justice unsealed charges against Russian nationals Alexey Bilyuchenko and Aleksandr Verner, for allegedly stealing thousands of bitcoin from the Mt.Gox crypto exchange back in 2011 to 2014.\u00a0 Bilyuchenko, 43, and Verner, 29, were charged on Friday in the Southern District of New York \u201cwith conspiring to launder approximately 647,000 bitcoins,\u201d which [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20541,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-20540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US Justice Department Charges Two Russian Nationals With Stealing Thousands of Bitcoin Linked to Mt. 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