Is bitzlato a 'high-tech axis of crypto crime'?

Authorities have seized cryptocurrency exchange Bitzlato, and arrested its co-founder, accusing the firm of fuelling a "high-tech axis of crypto crime". The US Department of Justice charged Anatoly Legkodymov, a Russian national living in China, with running a business that catered to what he once described as "crooks".

Is Binance a bitzlato exchange?

Binance, the world's largest crypto exchange, was among Bitzlato's top three counterparties by the amount of bitcoin received between May 2018 and September 2022, the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) said last week. Binance was the only major crypto exchange among Bitzlato's top counterparties, FinCEN said.

Is bitzlato a scam?

Authorities have accused the little-known platform of laundering funds tied to illicit Russian finance and have arrested its founder. The U.S. Justice Department and Treasury Department have charged Bitzlato Ltd. with money laundering and arrested its founder in Miami, officials said at a press conference in Washington on Wednesday.

Is bitzlato a money laundering operation?

Now, Deputy Treasury Secretary Wally Adeyemo said at Wednesday’s news conference, identifying Bitzlato as a money laundering operation makes it “an international pariah.” The case is US v. Anatoly Legkodymov, 23-m-17, US District Court, Eastern District of New York (Brooklyn).