U.S. Department of Justice: Cryptocurrency exchange Bitzlato is a major money laundering entity for illegal finance in Russia

ChainCatcher News, the U.S. Department of Justice has officially recognized the cryptocurrency exchange Bitzlato as a major money laundering entity related to illegal finance in Russia. Bitzlato's founder and majority owner, Anatoly Legkodymov, was arrested last night in Miami and is scheduled to appear for a hearing this afternoon in the U.S. District Court for the Southern District of Florida. He is accused of operating a money laundering business, violating U.S. regulatory safeguards, including anti-money laundering laws. Additionally, French authorities and the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) are also taking simultaneous enforcement actions.

It is reported that Bitzlato is a cryptocurrency exchange registered in Hong Kong and operating globally. Bitzlato has very low identity verification thresholds for users, providing a funding channel for darknet drug trafficking and a range of criminal activities. (Source link)