The Russian co-founder of a popular bitcoin exchange will be released from U.S. custody Wednesday, a day after a deal between Washington and Moscow freed American Marc Fogel, a U.S. official said.

Alexander Vinnik, the co-founder of BTC-e, is in U.S. custody in California and being prepared for transport to Russia, the official said. A lawyer for Vinnik confirmed that his family had been informed he was getting ready to be sent to Russia.

U.S. authorities have said BTC-e was a key platform used by cybercriminals to facilitate ransomware extortions, identity-theft schemes and narcotics distribution. Vinnik had been awaiting sentencing in the U.S. in late June, after pleading guilty to conspiracy to commit money laundering. He had been detained since 2017, first in Greece and then in France, before his extradition to the U.S. in 2022 at the age of 42.

Preparations for Vinnik’s departure from the U.S. followed a hastily convened hearing Tuesday at a U.S. federal court in San Francisco about his case, which took place behind closed doors.... Read More: WSJ