Crypto Capital President Arrested in Connection to Money Laundering and More

After BFX couldn’t access money, they did an IEO that got them over 1 billion USD worth of crypto to still be liquidated.

The media claim that the company was washing Colombian drug cartels money through the companies and bank account in a very small city of Poland.

Decrypt claims that Binance, Kraken, and BitMEX also used the banking services offered by Crypto Capital.

It is still not clear if all this mess was already counted into loses of the exchange(s) or this arrest will make more harm to the crypto sphere.

Exchanges of this size might tend to overlook this event. While this news may not hurt Bitcoin (BTC), speculators love to play on them, which will uncertainly lead to the downside of bitcoin price