Russian Wanted by the FBI for Running Massive Laundering Ring Arrested in Greece

A Russian man was arrested in Chalkidiki, northern Greece, suspected by the U.S. authorities of running a multi-billion money laundering operation.

According to Greek police, the 38-year old man was arrested at a luxury hotel where he was holidaying with his family.

Police acted on a U.S. warrant for the man accused of turning $4 billion from illicit business activities into the digital currency bitcoin.

He is suspected of heading a criminal organization since 2011 that “owns, operates and manages one of the world’s leading e-crime websites,” police said in a statement.

Bitcoin was the first digital currency to successfully use cryptography to keep transactions secure and hidden, making traditional financial regulation difficult if not impossible.