Bitcoin 

Ex-CEO of BTC-e Exchange’s Spin-Off WEX Is Arrested in Italy

Former CEO of now-defunct crypto exchange WEX, a spin-off of controversial BTC-e exchange, was arrested in Italy. No official statement to date Dmitri Vasilyev, who reopened BTC-e exchange as WEX.nz in September 2017, was detained by Italian prosecutors. While no official statement has been disclosed to date, BBC Russia reported the arrest on July 19. In the report, the publication cited an unnamed friend of Vasilev and two anonymous WEX investors. The reason for detention remains unclear. In April 2019, Vasilyev became the subject of a criminal investigation by the…

Read More
Bitcoin 

Bitcoin Ransomware Hackers Laundered Money via WEX Exchange

Big Four consulting and auditing company PwC has linked Iranian nationals behind Bitcoin (BTC) ransomware scheme SamSam to the crypto exchange WEX in a recent report published in February.    The report is based on information that was previously disclosed by the United States Department of Justice (DoJ). As per the DOJ, two Iranians — Faramarz Shahi Savandi and Mohammad Mehdi Shah Mansouri — were responsible for creating SamSam. SamSam is a ransomware demanding Bitcoin that reportedly damaged multiple U.S. companies, government agencies, universities, and hospitals. Within 34 months the hackers…

Read More