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

Investor Sentiment Plummets as Crypto Fear and Greed Index Hits 10

Investor sentiment has deteriorated, with the Crypto Fear and Greed Index dropping to 10, indicating extreme fear in the market.

user avatarTando Nkube

Other Crypto Funds Experience Significant Withdrawals

Other cryptocurrency ETF categories, including Solana and XRP, recorded significant withdrawals, indicating a broader trend of selling pressure.

user avatarSatoshi Nakamura

MEGA Plans AI Marketplace Launch for December

MEGA is set to launch an AI inference marketplace in December, allowing customers to access services from various AI model providers.

user avatarNguyen Van Long

MEGA Reduces Workforce to Shift Focus to AI Products

MEGA has laid off 20 employees as part of a restructuring to expand into artificial intelligence, moving beyond its blockchain infrastructure.

user avatarKofi Adjeman

Institutional Withdrawals from Crypto ETFs Reach Over $1 Billion

Institutional demand for crypto ETFs has weakened significantly, with US spot Bitcoin ETFs experiencing over $1 billion in withdrawals for the second consecutive week.

user avatarJesper Sørensen

Ethereum Staking Hits Record Levels Despite Price Drop

Ethereum's staking rate has surged to an all-time high of 36.3% of total supply, even as the price of ETH has fallen to around $2,000.

user avatarRajesh Kumar

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.