President Donald Trump has secured the release of American teacher Marc Fogel from Russian custody in exchange for Alexander Vinnik, a Russian national accused of bitcoin-related fraud and money laundering. A senior administration official confirmed the prisoner swap on February 12 according to the New York Post.
Vinnik, arrested in Greece in 2017, was extradited to France and later the United States, where he faced charges related to BTC-e, a now-defunct cryptocurrency exchange that processed over $9 billion in transactions.
He was convicted in France in 2020 for money laundering and sentenced to five years in prison. In 2024, he pleaded guilty to conspiracy to commit money laundering before a U.S. federal judge in San Francisco.
The U.S. Department of Justice had accused Vinnik of operating BTC-e without registering it as a money services business, despite having numerous American customers. Authorities cited the case as a demonstration of the DOJ’s global reach in combating cybercrime.
Political and Diplomatic Implications
The exchange has drawn comparisons to past high-profile prisoner swaps, including President Joe Biden’s 2022 exchange of arms dealer Viktor Bout for WNBA star Brittney Griner.
Fogel, who was held for three and a half years in Russia on marijuana-related charges, arrived in the U.S. on February 11, 2025. He was personally welcomed by President Trump at the White House, where he received a tour of the Lincoln Bedroom.
Upon his return, Fogel expressed gratitude, stating, “I want you to know that I am not a hero in this at all. And President Trump is a hero.”
According to the report, Steve Witkoff, Trump’s Middle East envoy, revealed that Saudi Arabia played a role in facilitating the prisoner exchange. He noted that the agreement came together in the days leading up to Fogel’s release.
Meanwhile, Vinnik remains in custody in northern California awaiting transport to Russia. The swap signals ongoing diplomatic negotiations between Washington and Moscow, with Trump indicating that another American detainee could be released soon, though no further details have been provided.
Several U.S. citizens remain imprisoned in Russia, including 72-year-old Stephen Hubbard, accused of fighting alongside Ukrainian forces against Russia.
