$4 Billion: Russian Man Arrested for Alleged Bitcoin Money Laundering Scheme

US and Greek authorities have reportedly arrested a Russian man believed to be behind a multi-year money laundering scheme orchestrated through bitcoin transactions.

According to the Associated Press, the as-yet-unnamed individual was arrested in Greece, with electronic equipment being confiscated at the time.

While details about the individual are scarce, AP reports that the person in question is 38 years old and, citing Greek police, was involved in the management of "one of the largest cybercrime websites in the world."

The person has been accused of laundering $4 billion since 2011 using bitcoin. At this time, it's unclear how the funds were sourced or which kind of cybercrime website the person is accused of operating.

Further details may be forthcoming, given that the individual in question is wanted in the US and could be extradited to face charges and a subsequent trial.

Police lights image via Shutterstock

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