Crypto Capital president arrested in drugs cartel laundering probe
Molina Lee arrested by Polish authorities and $350m seized
Ivan Manuel Molina Lee, the president of Crypto Capital has been arrested by Polish authorities accused of laundering money for an international drugs cartel via Bitfinex.
Poland’s Ministry of Justice recently seized bank accounts of two companies allegedly affiliated with Crypto Capital and its founder. The National Public Prosecutor’s Office stated that with $350m seized the operation “was the largest security [seizure] in the history of the Polish prosecutor’s office against forfeiture.”
Crypto Capital provides banking services to crypto exchanges and is allegedly the major exchange in which Bitfinex entrusted $850m but was then unable to access. To make up for the incurred loss, Bitfinex carried out a $1bn token sale in May.
In a blog published following Molina Lee’s arrest, the exchange stated that Crypto Capital had processed funds for and on Bitfinex’s behalf for a number of years, providing false information as to its legitimacy.
It further stated that it “is the victim of a fraud and is making its position clear to the relevant authorities, including those in Poland and the United States."
According to Decrypt, a number of other major cryptocurrency exchanges have utilised Crypto Capital’s services, including BitMEX, Kraken and Binance.