President Trump swaps BTC-e operator convicted of money laundering, Alexander Vinnik, in prisoner exchange with Russia

Quick Take

  • Initially arrested in Greece in 2017, both the U.S. and Russia requested his extradition.
  • Marc Fogel, the U.S. citizen exchanged for Vinnik, reportedly returned home on Tuesday night.

The former operator of the BTC-e cryptocurrency exchange, Alexander Vinnik, is being released to Russia after President Donald Trump swapped him for an American teacher in a prison exchange, multiple news outlets have confirmed.

Vinnik, who co-founded BTC-e in 2011, was convicted by a French court on money laundering charges and sentenced to five years in prison in 2020 but was held by a prison in Greece until 2022 when he was extradited to the U.S. to face additional charges.

The U.S. Justice Department originally charged Vinnik in a 2017 indictment on 21 counts, including operating an international money laundering scheme and operating an unlicensed money services business. BTC-e was one of the exchanges used to launder funds from the Mt. Gox hack.

He was taken into custody in Greece in July 2017 at the request of the United States, though was also wanted by Russia, which also requested his extradition that same year. Vinnik has also been accused of running ransomware scams and identity theft schemes.

BTC-e was one of the largest crypto exchanges during the time it operated, and known for its lax KYC procedures. The DOJ estimates it was responsible for laundering more than $4 billion of criminal proceeds.

In May 2024, Vinnik pleaded guilty to conspiracy to commit money laundering before a San Francisco federal judge.

The prisoner exchanged for Vinnik, Marc Fogel, reportedly returned to the U.S. on Tuesday night. He was held captive in Russia for three and a half years on marijuana charges.


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© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

AUTHOR

Daniel Kuhn is a Senior Journalist and Editor at The Block, where he covers the crypto industry with a particular focus on tech. He previously served as deputy managing editor of opinion/features at CoinDesk. He first appeared in print in Financial Planning, a trade publication magazine. Before journalism, he studied philosophy as an undergrad, English literature in graduate school and business and economic reporting at an NYU professional program. You can connect with him on Twitter and Telegram @danielgkuhn or find him on Urbit as ~dorrys-lonreb.

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