BTC-e Exchange was Crypto laundering

Mount Gox and Greece connected. It looks like Alexander Vinnik, which sources say was a key figure behind the BTC-e cryptocurrency exchange, was arrested in Greece on a U.S. warrant. They think close to $4 Billion dollars of Bitcoin was laundered by this exchange from stolen proceeds from crypto hacking.

Authorities think Alexander had been running a laundering operation since 2011 using the BTC-e exchange as the platform. Forensic internet evidence left a "paper trail" to his location in a quaint beach side village in northern Greece. His laptop had approximately 7 million bitcoins deposited, and 5.5 million bitcoins in withdrawals according to a report by Reuters this afternoon.

This might explain why the sight has been off line today. This shows that in this new "Wild Wild West" FinTech industry, we really need to be careful which exchanges we use. Once we have our coins in our account, we need to get them off line into our favorite hard wallets. I have used the Ledger Nano S since it first came out and love it.