Business & Tech
Crypto Corruption: Bitzlato Founder Charged With Major Financial Crimes
Bitzlato Co-Founder Anatoly Legkodymov was arrested in Miami by the the US Department of Justice for financial crimes.
According to the DOJ, Bitzlato processed more than $700m (£567m) in illicit funds, which broke money laundering prevention rules.
“As alleged, Bitzlato sold itself to criminals as a no-questions-asked cryptocurrency exchange, and reaped hundreds of millions of dollars’ worth of deposits as a result. The defendant is now paying the price for the malign role that his company played in the cryptocurrency ecosystem,” US Attorney Breon Peace stated during a press conference.
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