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

Stellar Development Foundation Makes Strategic Investment in Marketnode

On October 29, the Stellar Development Foundation announced a strategic investment in Marketnode to enhance institutional access to tokenized investment products in the Asia-Pacific region.

user avatarJesper Sørensen

Tokenization Efforts in Wall Street Face Challenges

Tokenization efforts on Wall Street face challenges as major companies opt out, highlighting volatility and illiquidity in the market.

user avatarRajesh Kumar

NYSE Partners with Avalanche for Tokenized Securities Platform

The New York Stock Exchange has partnered with Avalanche to create a tokenized securities platform, aiming for 24/7 trading and settlement, pending regulatory approval.

user avatarLucas Weissmann

Block Reaches Agreement in Principle with DOJ Over AML Allegations

Block, the payments company known for Cash App and Square, has reached an agreement in principle with the US Department of Justice regarding allegations of failing to maintain an effective anti-money laundering program.

user avatarFilippo Romano

Arkham Intelligence Highlights Institutional Holdings in Ethereum and Solana

Arkham Intelligence's update reveals significant institutional holdings in Ethereum and Solana, indicating a shift in investment strategies beyond Bitcoin.

user avatarEmily Carter

Arkham Intelligence Reveals $3 Billion in Institutional Crypto Holdings

Arkham Intelligence has identified and labeled approximately $3 billion in cryptocurrency assets held by major investment funds, enhancing transparency in institutional crypto investments.

user avatarEmily Carter

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.