Bitzlato Founder Arrested , in $700M Laundering Scheme.
Bitzlato Founder Arrested , in $700M Laundering Scheme.
'The Hill' reports that U.S. and French authorities have seized the Bitzlato website.
The FBI arrested its founder,
Anatoly Legkodymov, on Jan. 17 in Miami.
The FBI arrested its founder,
Anatoly Legkodymov, on Jan. 17 in Miami.
Today, the Department of Justice has dealt a significant blow to the crypto crime ecosystem, General Lisa Monaco, Deputy Attorney General, via statement .
U.S. officials allege that the crypto exchange processed
over $700 million in illegal funds by not having a proper anti-money laundering program in place.
The Justice Department and Treasury Department officials also allege that Bitzlato was aware of some of this criminal activity.
Bitzlato was particularly active in
facilitating illicit activity, but it is
ultimately part of a larger, larger ecosystem
of cyber criminals that are allowed to
operate with impunity within Russia, Wally Adeyemo, Deputy Treasury Secretary, via statement.
'The Hill' reports that a large part of the criminal complaint centers on Bitzlato's relationship with a Russian-based darknet market known as Hyrda Marketplace.
According to the complaint, a
"substantial portion" of the crypto billions Hydra received came from Bitzlato wallets.
'The Hill' reports that Legkodymov resides in China. It's not clear why he was in Miami