According to a recent report by a Romania-based newspaper – Cluj, the case of Vlad Nistor is much more complex than the ordinary illicit operation of a digital currency firm. Vlad Nistor is the CEO of CoinFlux – a Bitcoin (BTC) trading platform. The latest reports of Cluj talks about the more severe allegations as to Vlad Nistor’s behavior.
13 Other Romanians Are Involved in the Phishing
According to the report on the newspaper, the CEO of CoinFlux was part of a group that carried out phishing attacks on the US soil when the trading platform was just getting started between 2014 and 2015. So far, fourteen Romanians have been arrested by federal authorities out of Kentucky.
Vlad Nistor is just one of the most famous amongst the fourteen Romanians due to the nature of his business and outward appearance as an upright citizen. There are also claims that he has advised some of the active cyber attackers through Telegram, helping them to launder the achieves of their illicit activities. They carried out a lot of phishing attacks on U.S soil, some of them even traveled to the U.S to better succeed.
From the report: “Two of these approaches were carried out online through phishing or several fictional ads via online platforms such as eBay. For instance, Romanians were sending emails using telephone numbers or instant messaging platforms where users are advised to provide confidential information to win prizes. A website address that contains a clone of the website of a trading or financial institution was indicated in the email.”
Bitcoin (BTC) Price Today – BTC / USD
After collecting money from victims of phishing, the attackers would use the newly created trading platform – CoinFlux – to wash the money via several digital currency methods. That alone wouldn’t normally be enough to indict the operator of the trading platform, but a lot of trading platforms have some sort of user agreement that bans illicit activities.
The agreement also clears itself of misconduct on the part of its users. As long they adhere to anti-money laundering and KYC (know your customer) regulations, they are often free of responsibility.
Nevertheless, the case of CoinFlux’s CEO is different. According to allegations, Vlad Nistor actually gave the phishers a hint on how to do away with their proceeds using his trading platform.
Court Gives Nistor until December 20th to Make Arguments Why He Shouldn’t Be Extradited
According to the report by the Romanian-based newspaper, Nistor now seems to be what is referred to as “free on bond” in the U.S. The court has given him and his attorney until December 20th to present arguments as to why he shouldn’t be extradited. However, he is presently banned from using Bitcoin (BTC) or any other digital currency for any reason. He is also mandated to report to the court whenever his presence is required.
The extradition requests of three out of the fourteen criminals have been approved. The names of the criminals are Arvat Florin, Dobrica Alin-lonut, and Popescu Bogdam-Stefan. According to the report, the difference between their action and that of Nistor is that they executed their illicit activities directly on U.S soil. The Romanian government and Nistor’s lawyers’ work will determine if Nistor acted in enough violation of U.S laws to permit an extradition.