Top Stories

Operator of CoinFlux arrested in Romania, U.S. demands his extradition

Coinflux operator charged with fraud

According to the operator of the Romanian bitcoin Exchange called CoinFlux who goes by the name Vlad Nistor, was recently arrested in Cluj with the help of four U.S. Secret Service agents and the U.S Department of Justice have asked the Romanian officials for his extradition. 

As of the time of press, reports seem to be leading towards his release. The exchange operator is currently under investigation in two criminal cases in the U.S.

The levied charges against him so far include fraud , computer fraud , money laundering and the creation of an organised crime group.

According to a recent blog post by CoinFlux marketing specialists Alexandru Coman, the exchange had to stop its operations due to the recent unexpected investigations going on.

coinflux operator

Coinflux exchange though small, is drawing a lot of attention

Local new outlets say that the outlet Stiti de Cluj Nistor launched the Exchange CoinFlux back in December of 2015. He has been working in the financial sector for several years prior to the launch.

The platform has recently reported that it hosted more than 32,000 transactions in 2017 alone, and has been helping more than 19,000 people.

The exchange which houses a multitude of cryptocurrencies for trading via it’s website has now caught the attention from the prosecutors in the United Sates with claims that Nistor has been cheating American citizens in some bitcoin transactions.

According to a few media reports, the prosecutors has plans to search a few storage units of Nistor as part of the investigation. 

This arrest seems to still be very controversial on the operator of Coinflux as the news of his arrest in the involvement of U.S. officials has gone unnoticed in Romania.

According to EVZ.ro the participation of U.S agents in the search and arrest of Coinflux operator is illegal under Romanian criminal law. There were also no names given of the agents involved in the arrest as judicial sources were not willing to share these information. 

There is currently a lot of questions about the arrest of Nistor and plans to extradite him out of the country as fast as possible. The team has stated that Romania has an obligation to offer a sense of protection and defence to citizens, especially because Nistor’s case was in the Criminal investigation section.

What are your thought of this arrest? Feel free to leave a comment down below.   

coinmag

My occupation is the Research of blockchains and their practical applications in the economy. I have graduated through various levels of education, including electrical technique, Business, Psychology, and innovative technologies.

Leave a Comment

Your e-mail address will not be published. Required fields are marked *