Russian WEX Exchange Figure Arrested in Poland Amid U.S. Extradition Request

A Russian national linked to the now-defunct WEX cryptocurrency exchange has been arrested in Poland on charges related to fraud and money laundering.

U.S. authorities have requested his extradition for his involvement in crypto crimes, and the legal process for this is ongoing.

Dmitry Vasiliev, the former CEO of WEX, was apprehended in Warsaw by a specialized police unit. The arrest follows an extradition request from the U.S. Department of Justice, which is investigating him for running one of the world’s largest crypto exchanges involved in fraudulent activities.

Vasiliev had been briefly detained in 2021 at Warsaw Airport following another request from Kazakhstan but was released after a short period in custody.

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Vasiliev’s arrest is part of a larger investigation into the collapse of WEX in 2018, which saw the disappearance of $450 million in customer funds. The exchange was originally set up to replace BTC-e, another crypto platform linked to illicit activities, including the Mt. Gox hack.

Vasiliev’s role in WEX has come under scrutiny, especially after reports suggested the exchange was run by Alexey Bilyuchenko, who allegedly lost control of the platform before its collapse.

Authorities are now focused on his potential extradition to the U.S., where he faces up to 20 years in prison if convicted.

Alexander Stefanov