Who is Alexander Vinnik, Russian exchanged for Marc Fogel

The U.S. is expected to release Russian prisoner Alexander Vinnik, a cryptocurrency kingpin, in exchange for American Marc Fogel, who was freed by Russia earlier this week, the White House confirmed Wednesday.

Fogel returned to the U.S. late Tuesday evening in an emotional homecoming. He had been imprisoned in Russia since 2021 and said he felt like the “luckiest man on earth” to be released.

Who is Vinnik?

Vinnik previously operated one of the world’s largest cryptocurrency exchange operations, BTC-e. After U.S. authorities in 2017 requested his detainment, Vinnik was arrested in Greece.

He was suspected of laundering $4 billion through crypto exchanges, and he later pleaded guilty to conspiracy to commit money laundering and faced 20 years in prison, Reuters reported.

At the time of his indictment, the Department of Justice (DOJ) said he was accused of laundering billions of dollars for other individuals, facilitating drug trafficking, identity theft and hacking. As the BTC-e operator, he oversaw a platform where users could trade bitcoins for other cryptocurrencies.

He would facilitate crimes by not requiring users to validate their identity, by not instituting protections or processes to combat money laundering, and by anonymizing transactions, the DOJ alleged.

The department also argued Vinnik used the organization to launder money he received from Mt. Gox, a popular bitcoin exchange that collapsed more than a decade ago.

Details revealed about Vinnik’s release

Early Wednesday, Kremlin spokesperson Dmitry Peskov told reporters that a U.S. prisoner would be returning to Russia as part of a deal struck with President Trump to release Fogel.

Peskov told reporters the prisoner would be publicly named once they reached Russian soil in the coming days, but it was later confirmed by a White House official that Vinnik was returning to Russia.

While it was later confirmed that Vinnik was the U.S.-based prisoner being exchanged for Fogel, the Trump administration had initially kept quiet about the release.

Steve Witkoff, Trump’s Middle East envoy, flew back to the U.S. with Fogel late Tuesday. He said Wednesday that he wasn’t sure if there were any Russian prisoners in the exchange.

Secretary of State Marco Rubio also said there “wasn’t some deal” with Russia that involved the release of “like 10 spies,” highlighting Trump’s leadership as a reason.

It was later confirmed by multiple outlets that Vinnik would be heading home to Russia.

Fogel’s homecoming

Fogel touched down in the U.S. Tuesday, meeting with Trump at the White House and expressing gratitude for both the U.S. and Russian officials who negotiated the deal.

Fogel was working in Russia as a teacher when he was arrested in 2021 and sentenced to 14 years in prison after he was found carrying cannabis, which he said he was prescribed for back pain. Russia charged him with drug smuggling in 2022, but the Biden administration said he was wrongfully detained.

Trump officials touted Fogel’s release as a step toward ending the Russia-Ukraine war. Rubio called Fogel's release a “good sign” and that things were headed in the right direction under Trump’s leadership.

It was initially unknown what communication Trump and Russian President Vladimir Putin had about the negotiations, but the two leaders spoke later Wednesday about the war. Trump posted online thanking Putin for his “time and effort” facilitating Fogel’s release.

This was also the first prisoner swap of Trump’s second term.

It’s not known why the details of Vinnik’s release were not openly announced initially. During former President Biden's term, countries named individuals included in the negotiations.

Topics

US to release Russian in exchange for freed American teacher Marc Fogel

Alexander Vinnik pleaded guilty to conspiracy to commit money laundering last year
Financial Times - 2h
Russian rouble surges after release of US teacher Marc Fogel

Currency jumps almost 3% against US dollar over growing hopes of end to Ukraine war
Financial Times - 6h
Russian money launderer to be freed in exchange for Marc Fogel

The Trump administration has agreed to send a convicted money launderer back to Russia in exchange for the release of American teacher Mark Fogel, a U.S. official told NBC News on Wednesday.
NBC News - 3h
Top Trump official Witkoff ‘not sure’ if Fogel exchanged for Russian prisoner

The Trump official who helped negotiate the release of an American held in prison in Russia for over three years said in an interview with NewsNation that he wouldn’t comment on whether the U.S. ...
The Hill - 6h
What to know about American Marc Fogel's release from Russian captivity

American teacher Marc Fogel, who had been held in Russia since 2021, is back on U.S. soil after his release from captivity. CBS News senior White House and political correspondent Ed O'Keefe has ...
CBS News - 7h
Jailed Russian released in US in exchange for Marc Fogel: Kremlin

The Kremlin said early Wednesday that American Marc Fogel's release came in conjunction with the Trump administration granting freedom to a Russian citizen held in a U.S. prison — though they were ...
The Hill - 8h
Russian held in US to be freed in exchange for Fogel release, Kremlin says

Detained in Russia since 2021, Fogel landed back in the U.S. on Tuesday.
ABC News - 8h
American Teacher Marc Fogel Released From Russian Prison

In a deal negotiated by the Trump administration, American teacher Marc Fogel is on his way home to the U.S. after over three years detention in Russia. The U.S. said he was wrongfully detained. ...
NBC News - 21h
Family of Marc Fogel reacts to his release from Russian prison: "It's extraordinary"

After three-and-a-half years of imprisonment in Russia, Butler, Pennsylvania, native Marc Fogel is returning home.
CBS News - 22h