BBC Russia reported that Dmitry Vasiliev, the former CEO of Wex, has been arrested in Poland. Wex was a popular crypto exchange in Russia that stopped working in late 2017. Records have it that the exchange once hit an $80 million daily trading volume.
While there are no records of the exact customers’ funds that the exchange went away with, there are speculations that it would be above hundred millions of dollars. Due to its sudden fall, a lot of its clients went bankrupt as their funds were in the exchange.
Some big users of the exchange, one of whom lost 120 BTC, filed legal actions against Vasiliev. However, he didn’t honor Court summons at first. Hence the reason he was declared wanted internationally. The Kazakhstan cops eventually arrested him in 2019. However, the Court freed him some weeks later due to legal technicalities.
Vasiliev is now arrested in Warsaw, the capital of Poland. Meanwhile, reports have it that he has been arrested since the middle of August. At this juncture, the government of Kazakhstan is trying to extradite him back to continue his trial.
Having said that, there are indications that Wex was an offshoot of the defunct BTC-e. BTC-e was another bankrupt exchange whose key managers were arrested for fraud. But those key managers have denied having anything to do with Wex.