Romanian police detained Vlad Nistor, CEO of Coinflux, a top crypto exchange operating in the country, on an American warrant that accuses him of running a fraud scheme, organized crime, and money laundering.
According to local media, Nistor was moved to a temporary stay in the Cluj Court of Appeal and will be handed over to the US authorities in the near future. Four agents from the FBI attended the investigation and are pressing to hand over Nistor, and Romania initially appeared willing to comply.
Discover iFX EXPO, Your Gateway to Asian Markets!
The Bucharest Court of Appeal is reportedly considering the US extradition request for Nistor. The court is scheduled to issue a final ruling tomorrow, following two requests by the US Justice Department.
We are in the unpleasant situation to temporarily stop any digital currency exchanges. For further details, please consider the text belowhttps://t.co/IJHXy6KQkd
— CoinFlux (@CoinFlux) ١٣ ديسمبر ٢٠١٨
Nistor is the founder and CEO of CoinFlux, which was established in 2015 and has recently re-invented its brand and changed its user interface and overall design.
He is a 29-year-old entrepreneur with experience in the financial field, where he managed assets for companies like Aegon, Banca Transilvania or BCR, a member of Erste Group.
CoinFlux facilitates the users to trade cryptocurrencies with one another and also with fiat currencies. The exchange has suspended its trading services but seems optimistic to restart operations soon.
“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,” the company explains on its website.
Nistor’s arrest is the latest in a series of US operations against crypto criminals in Europe, including Alexander Vinnik, an alleged Russian hacker accused of laundering $4 billion of criminal proceeds through BTC-e.