Polish Police Arrested Crypto Kingpin For $450M WEX Exchange Fraud
Polish police have detained 37-year-old Russian citizen Dmitry V. on suspicion of fraud and money laundering related to the collapse of the WEX cryptocurrency exchange. Known as the “King of Cryptocurrency,” Dmitry V. is believed to be former WEX CEO Dmitry Vasiliev. The arrest was carried out by Poland’s elite Central Police Investigative Service in response to a U.S. extradition request. Vasilyev allegedly oversaw WEX’s operations until the company’s collapse in 2018, resulting in the disappearance of $450 million in customer funds. If extradited to the United States, Vasiliev could face up to 20 years in prison for his role in what authorities say is a major cryptocurrency-related crime.
