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The CEO, Vlad Nistor, of the exchange of Romanian cryptocurrencies CoinFlux was recently arrested according to local Romanian news several days ago. Specifically, Nistor was detained in the city of Cluj-Napoca Tuesday. The outlets also report that it is awaiting extradition to the United States.
According to rumor, Vistor will be accused of fraud, computer fraud, money laundering and possible additional costs. It should be noted that Coinflux is not, in any way, an important exchange of cryptocurrencies known globally. In fact, the volume associated with the exchange is so small that it is not even registered on Coinmarketcap. However, the arrest of a CEO of a cryptocurrant exchange could damage the reputation of the cryptocurrency markets as a whole.
Stopping nature
An editorial for a local Romanian newspaper seemed to question the way the arrest was handled, suggesting that the arrest and extradition could be "unfair". In particular, the approximate translation was as follows:
"Or the Romanian Vlad Nistor broke into the USSS guests yesterday morning, he packed it tonight, and today he wants to pack it in the US No one is opposed to extradition by the Romanian authorities, even if the Romanian citizen is only in a phase of criminal investigation – no one knows why he is accused (yesterday even the defenders had no idea what to build their minimum defense.) Well, what about human rights, the right to a just judge, the & rsquo; equality of arms and so on? "
CoinFlux Consequences
Coinflux bank accounts have been officially frozen. The exchange did not seem to recognize the CEO's arrest on social media earlier but now he acknowledged that there is an investigation. In particular, the Coinflux team he has declared that are in the "unfortunate situation of temporary interruption of any exchange of digital currency".
The cryptocurrency exchange has turned into a platform for buying, selling and trading cryptocurrency notes like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC). The website now states that "buy and sell has been temporarily disabled" on the main page of its website.
Alexandru Coman of Coinflux offered this statement, which seemed to understand the gravity of the situation: "We are aware that this is a worrying situation for people who put their trust in our service, and we assure each of them that we will do all that it is for us to solve this unjust situation ".
