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Details on the arrest of Romanian crypto exchange, CoinFlux's CEO, including the crimes being committed just emerged.
Just a day after the news on the arrest of Vlad Nistor, CEO of Romanian-based crypto exchange, CoinFlux, an update containing details of the case have emerged.
Read more: Romania-based CoinFlux’s CEO arrested, bank acc frozen, customers’ fate unclear
The story goes back to 2014-2015, when a group of Romanian criminals were reported to perform cyber crimes that targeted the US citizens living in United States territory.
According to local media, Ziar de Cluj report, in a loose translation, “Two of these methods were run online via phishing or through various fictitious sale ads (via Ebay or via online platforms.) For example, Romanians were sending e-mails using instant messaging programs or phone numbers where the user is advised to give confidential data to win certain prizes or was informed that they are necessary due to technical errors that led to loss of original data. A web address containing a clone of the site of a financial or trading institution was indicated in the e-mail.”
Following the money flow, the investigation found out that some of the suspects were using the money they got from their illegal activities to transact on Nistor’s then newly-launched CoinFlux platform.
Furthermore, the US authorities suspected that not only the criminals used CoinFlux to launder the money, but Nistor was also involved by engaging in conversations with the criminals via Telegram.
In fact, Nistor was said to advise the criminals, whom he saw as potential clients to use his platform.
In his defense, as told by his lawyers, Nistor said he didn’t know the the persons personally, thus he had no ideas if they were criminals. He also claimed that CoinFlux’s transactions are beyond the control of the law, his staffs, even himself.
Nistor is currently waiting for the local court's decision on December 20th on whether or not he will be extradited to the US.
Under the US law, he is facing three charges, which also corresponds to Romanian Criminal Code. They are criminal group formation, computer fraud through a payment system and deception.
How would the case turn out? Stay on Chepicap for more updates.