According to a local media report, Romanian police detained Vlad Nistor, the Chief Executive Officer (CEO) of Romania’s largest cryptocurrency exchange Coinflux on a warrant from the United States. The American warrant accused him of running a fraud scheme, money laundering, and organized crime. Coinflux is one of the top cryptocurrency exchanges operating in the country. Subsequently, the exchange has stopped all-digital currency transactions. In a statement, the exchange said that
“We are in the unpleasant situation to temporarily stop any digital currency exchanges.”
Though the exchange suspended all its services but seems optimistic to restart operations soon. The website of Coinflux explains
“Our expectation is that we will gain control back, within the next days. We are aware that this is a worrisome situation for the people who have placed their trust in our service, and we assure each and every one of them that we will do everything that’s up to us to fix this unfair situation.”
According to the local media report, Vlad Nistor moved to a temporary stay in the Cluj Court of Appeal and will be handed over to the United States authorities in the near future. Four FBI agents attended the investigation and they put the pressure to hand over Vlad.
Coinflux is an online cryptocurrency trading platform which was founded in 2015 in Cluj, Romania. Vlad Nistor, the founder and Chief Executive Officer of Coinflux has recently reinvented its brand and changes the overall design and user interface. Before starting Coinflux, Vlad gained the experience in the field of finance by working with companies such as Aegon, Banca, and BCR. He managed assets for these companies. Coinflux enables the users to trade cryptocurrencies with one another as well as with fiat currencies. The platform has more than 200 million euros worth of Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), and Litecoin (LTC) in transactions.
Vlad was arrested on the territory of Romania upon the request of the United States prosecutors. The issue of extradition of Vlad to the United States will be heard by the Appeals Court of Bucharest. The U.S. is taking steps against crypto criminals in Europe. Vlad’s arrest is one of the latest in the series of U.S. operations including the arrest of Alexander Vinnik, who is an alleged hacker from Russia. He is accused of laundering $4 billion of criminal proceeds through BTC-e.