CEO and CTO of Popular Bitcoin Exchange Arrested

Bitcoin exchange owners are notoriously known for being in trouble with the law. From the imprisonment of Mark Karpelès, the CEO of bitcoin exchange Mt. Gox to the Cripsty exchange case, many have found themselves facing the law on money related charges. This time, the CEO, CTO and head of IT of a well-known Bitcoin exchange are facing charges of drug possession and improper exhibition of a dangerous firearm.

The aforementioned exchange is Paxful, a peer to peer market in which users are allowed to buy and sell Bitcoins with alternative payment methods like paypal and amazon/ebay gift cards. The exchange is known to be a breeding ground for scam artists that prey on sellers that accept refundable methods and use the exchange as a method to cash out from hacked paypal accounts, bought on deepweb markets.

It all started on Friday when Artur Shaback, head of IT at Paxful was spotted by local area residents being photographed by Ivan Suhharev, CTO of Paxful, with a mask over his face while holding an automatic rifle on the balcony of a Del Rio Apartment penthouse on 1100 Collins Avenue, Miami. The apartment belongs to Mohamed Yousseff, CEO of Paxful. This, apparently, isn’t

Read more ... source: TheBitcoinNews