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The owner of the WEX crypto exchange, who embezzled funds from the exchange's clients, has been sentenced.
The Meshchansky Court of Moscow has ruled in the case of 42-year-old resident of Novosibirsk Alexey Ivanov, accused of embezzlement (Part 4 of Article 160 of the Criminal Code of the Russian Federation) of 3 billion rubles for clients of the WEX crypto exchange. The programmer was found guilty and sentenced to 3.5 years in a general regime penal colony, the defendant's lawyer told TASS.
Ivanov fully admitted his guilt, so that the trial was held in an expedited manner, without considering the evidence. He also asked the court to send him as a volunteer to Ukraine.
Previously, Ivanov, then still under the name Alexey Bilyuchenko, worked as a system administrator, and in the early 2010s , together with Alexander Vinnik, founded the BTC-e cryptocurrency exchange, which later became known as a platform for laundering stolen cryptocurrency.
In 2017, Vinnik was arrested in Greece at the request of the FBI, and Bilyuchenko left for Novosibirsk. Shortly after clients of his new crypto exchange, WEX, were confronted with the loss of assets, Bilyuchenko attracted the attention of Russian law enforcement agencies. In 2022, under a new name Alexey Ivanov, he was arrested and charged with embezzlement of 3 billion rubles. Ivanov agreed to a deal with the investigation and compensated for the damage.
In April 2023, the case was transferred to the Zaeltsovsky court of Novosibirsk, but the defense of Ivanov managed to transfer it to Moscow. This trial was the first in Russia in the case of theft of cryptocurrency.
The Meshchansky Court of Moscow has ruled in the case of 42-year-old resident of Novosibirsk Alexey Ivanov, accused of embezzlement (Part 4 of Article 160 of the Criminal Code of the Russian Federation) of 3 billion rubles for clients of the WEX crypto exchange. The programmer was found guilty and sentenced to 3.5 years in a general regime penal colony, the defendant's lawyer told TASS.
Ivanov fully admitted his guilt, so that the trial was held in an expedited manner, without considering the evidence. He also asked the court to send him as a volunteer to Ukraine.
Previously, Ivanov, then still under the name Alexey Bilyuchenko, worked as a system administrator, and in the early 2010s , together with Alexander Vinnik, founded the BTC-e cryptocurrency exchange, which later became known as a platform for laundering stolen cryptocurrency.
In 2017, Vinnik was arrested in Greece at the request of the FBI, and Bilyuchenko left for Novosibirsk. Shortly after clients of his new crypto exchange, WEX, were confronted with the loss of assets, Bilyuchenko attracted the attention of Russian law enforcement agencies. In 2022, under a new name Alexey Ivanov, he was arrested and charged with embezzlement of 3 billion rubles. Ivanov agreed to a deal with the investigation and compensated for the damage.
In April 2023, the case was transferred to the Zaeltsovsky court of Novosibirsk, but the defense of Ivanov managed to transfer it to Moscow. This trial was the first in Russia in the case of theft of cryptocurrency.
