- Alexander Vinnik will change his plea in his US money laundering trial next month
- Vinnik has proclaimed his innocence since his August 2022 extradition to the US
- It seems that the Russian will plead guilty at the hearing
Alexander Vinnik is set to change his plea in his US money laundering trial at a hearing next month. Vinnik was extradited to the US in August 2022 following his release from prison in France where he was charged with laundering around $4 billion in stolen funds through the defunct crypto exchange BTC-e. BTC-e laundered funds from hackers for six years between 2011 and 2017, including hundreds of thousands of bitcoins stolen from MtGox, and Vinnik has maintained his innocence since landing in the US. It seems, however, that he will finally admit to having some part to play in those activities.
Vinnik Still Paying the Price for BTC-e Involvement
Vinnik was one of the co-founders of BTC-e, which launched in 2011 just as Russian hackers were starting their multi-year raid on MtGox, with its policy of not identifying users meaning it was the exchange of choice for hackers of all persuasions. BTC-e was eventually shuttered in July 2017 when Vinnik was arrested in Greece, whereupon a three-way extradition battle ensued between the US, France, and Vinnik’s native Russia.
France eventually won the battle, where Vinnik was found guilty of money laundering through BTC-e, serving half his sentence before being released into US custody. Vinnik was charged in a 21-count indictment over his alleged money laundering activities, to which he pleaded not guilty.
However, an April 12 case update reveals that Vinnik is about to change his plea:
The United States now respectfully reports that Vinnik’s criminal proceeding remains ongoing, with a change of plea hearing set for May 3, 2024.
It seems, therefore, that Vinnik is about to change his mind over his complicity, almost certainly following a plea deal to reduce the charges and, therefore, the jail time he can expect. In pleading guilty, however, we will be denied the truth of the many aspects of the MtGox hacks of which we are currently unaware.
