A federal jury has convicted two Romanian alleged cybercriminals of spreading malware to steal credit card credentials and illicitly mine cryptocurrency, an announcement from the official website of the United States Department of Justice revealed on April 11. The malware allegedly spread by the suspects was reportedly used for cryptojacking and to steal credit card and other data that the suspects would have sold on darknet markets and used to engage in online auction fraud. As the Justice Department press release reports, Bogdan Nicolescu, 36, and Radu Miclaus, 37, were convicted after a 12-day trial. The two individuals were charged …

Nistor Vlad Călin, the founder of Romanian crypto exchange Coinflux, will be extradited to the United States, local media company Mediafax reports Jan. 4. As Cointelegraph reported in December, Călin was arrested earlier on a warrant from the U.S. for organized crime, money laundering and fraud allegedly conducted through his cryptocurrency exchange. Călin has been reportedly arrested by the U.S. authorities after a note from a secret service agent accused him of knowingly helping to launder proceedings of criminal activity committed on the territory of the United States. According to the most recent report by Mediafax, Anatol Pânzaru, Călin’s lawyer, …

The CEO of Romania's largest crypto exchange Coinflux was reportedly arrested on a warrant from the United States for fraud, organized crime, and money laundering, local news outlet Mediafax reported Dec. 13. Coinflux has subsequently stopped all digital currency exchanges. Founded in 2015 in the Romanian city of Cluj, Coinflux is an online digital currency trading platform, with reportedly more than 200 million euro worth of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP) in transactions. Vlad Nistor, the CEO and founder of Coinflux, was supposedly arrested on the territory of Romania upon the request of U.S. prosecutors. Nistor …

The Ministry of Finance of Romania has released a draft Emergency Ordinance, which regulates the issuance of electronic money (e-money), Business Review reported July 5. The draft reportedly describes electronic money as “monetary value stored electronically, including magnetic, representing a claim on the issuer issued on receipt of funds for the purpose of performing payment transactions and which is accepted by a person other than the issuer of electronic money.” According to the document, any legal entity looking to issue e-money must have a share capital of no less than €350,000 ($409,000), while its members are subject of approval by …

Bitcoin is finding a very tempting proposition and acceptance is growing significantly in Romania, one of Europe’s poorest countries for years but now a country on the verge of an economic rebound. The country has literally exploded with Bitcoin startups and related activity during the last several months. There is now a Bitcoin ATM in the capital of Bucharest with more planned and the country has its own Bitcoin Exchange in the western city of Oradea which claims to have more than 2,000 registered clients and more than 1.1 million Euros in transaction in only seven months of operation. The …