U.S. Department Of Justice Shuts Down Crypto Exchange Bitzlato, CEO Arrested

The U.S. Department of Justice (DOJ) has announced the closure of the Bitzlato cryptocurrency exchange, along with the FBI’s arrest of the exchange’s owner, Anatoly Legkodymov. In a live stream hosted on January 18, representatives from the law enforcement bureau revealed that the Hong Kong-based exchange was allegedly a part of a large illicit cryptocurrency network designed to circumvent sanctions, launder money and conceal crimes.

“Legkodymov operated Bitzlato as a high-tech financial hub that, in his own words, catered to ‘known crooks,’” the DOJ statement reads. “Bitzlato failed to implement safeguards required by U.S. law – safeguards that enable authorities to detect and investigate financial crimes.”

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