Many scams are happening in the crypto industry, especially BTC. If an investor is not careful, he’ll fall prey to cybercriminals posing as legit projects or platforms. Sometimes, some exchanges might run into hitches and cause massive losses to investors. This was the case with WEX, BTC-e, and other exchanges that caused people to lose funds.
Vinnik is a Russian national known as a BTC-e operator, one of the initial Bitcoin exchanges. The exchange is connected to Mt. Gox’s hack, the first Bitcoin exchange with an attack of 744,408 BTC.