The founder of Bitzlato admitted to money laundering

The founder of Bitzlato admitted to money laundering

user avatar

by Max Nevskyi

3 years ago


Anatoly Legkodymov, the founder of the cryptocurrency platform Bitzlato, has admitted to money laundering. According to the prosecution, the exchange processed over $700 million in illegal funds, acting as a key partner of the darknet market Hydra, known for its shadowy activities.

The prosecution emphasized that Legkodymov was aware that his exchange was a haven for criminal actions, mainly due to the lack of strict control over illegal financial transactions. This highlights Bitzlato's role as a platform facilitating financial crimes.

Commenting on the situation, Nicole Argentieri, the acting assistant attorney general of the USA, stated that Legkodymov managed an exchange that actively contributed to criminal activity and money laundering. Her words underscore the seriousness of the charges and the scale of the exchange's impact on the criminal world.

As part of the plea agreement, Legkodymov agreed to shut down Bitzlato and relinquish claims to assets worth approximately $23 million. This decision demonstrates the consequences of his actions and forms part of his punishment.

It is worth recalling that in January 2023, the United States imposed sanctions against Bitzlato, significantly impacting the reputation and operations of the exchange. These measures were taken in response to money laundering accusations and interactions with shadow structures, highlighting the US's determination to combat financial crimes in the cryptocurrency sector.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

OKX and ICE Develop Marketplace for Tokenized Stock Trading

OKX and ICE are developing a marketplace for trading tokenized versions of US-listed stocks around the clock, utilizing stablecoins for transactions.

user avatarAyman Ben Youssef

Bitcoin Price Stabilizes Above 76,000 After Recent Decline

Bitcoin's price has stabilized above 76,000 after a significant drop, but institutional outflows raise concerns about a lasting recovery.

user avatarSon Min-ho

Crypto-Linked Companies Remain Potential Participants in Tokenization Market

Despite traditional corporations rejecting tokenization, several crypto-linked companies remain potential participants in the market.

user avatarTando Nkube

Apple and Meta Join Growing List of Companies Rejecting Tokenization Plans

Apple and Meta have recently joined a growing list of companies rejecting plans to tokenize their shares through a new venture backed by OKX and ICE.

user avatarKofi Adjeman

Retail Investors to Face Restrictions in New Crypto Market

Retail investors will face significant restrictions in the new crypto market launching on December 1, including a purchase limit of 300,000 rubles annually and mandatory risk awareness testing.

user avatarSatoshi Nakamura

Moscow Exchange to Launch Digital Asset Market on December 1

Moscow Exchange is set to launch a regulated digital asset market on December 1, allowing trading of Bitcoin, Ethereum, and Tether.

user avatarJesper Sørensen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.