US giving up Russian cybercrime kingpin Alexander Vinnik after Fogel release

• The United States is freeing a Russian cybercrime boss Alexander Vinnik in exchange for American Marc Fogel. Fogel returned to the U.S. Tuesday, Feb. 11.
• Vinnik was arrested in 2017 on charges related to the laundering of billions of dollars using the virtual currency Bitcoin.
• Trump indicated another American is set to be released soon.

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The United States is preparing to return cybercrime kingpin Alexander Vinnik to Russia as part of an exchange for American Marc Fogel. Vinnik was arrested in 2017 in Greece and extradited to France and the United States to face charges of fraud and money laundering.

For the six years before Vinnik’s arrest, he was in charge of the Russian BTC-E cryptocurrency exchange. He allegedly facilitated the transfer of billions of dollars for criminals across the globe, supporting drug trafficking rings, ransomware attacks and the corruption of public officials.

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In May 2024, he pleaded guilty to conspiracy to commit money laundering and faced 20 years in prison.

According to the Department of Justice, BTC-E has been implicated in multiple crimes, with Vinnik himself being responsible for more than $120 million in losses.

As part of the deal, Vinnik is forfeiting $100 million of his criminal proceeds.

When did Marc Fogel return to the U.S.?

Fogel returned to the U.S. Tuesday, Feb. 11. He met with President Donald Trump at the White House after being held captive in Russia for three-and-a-half years on marijuana charges.

His lawyer claimed the drug was prescribed to him in the U.S. for chronic pain. 

Were Vinnik’s lawyers working on an exchange?

Vinnik and his lawyers have been outspoken about a potential prisoner swap, making the request in 2023 to be released from a protective order so they could lobby for an exchange.

The exchange with Fogel was the first deal negotiated between the current administration and Russia. 

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Trump said another American is set to be released as soon as Wednesday, Feb. 12, but didn’t give any more details. 

Several Americans are still detained in Russia, including Stephen Hubbard, who was accused of fighting the Russian army with Ukrainian mercenaries.