Europol Accuses Crypto Exchange Bitzlato Of Converted Over $1Billion Crime-Linked Assets

Crypto exchange Bitzlato has been accused by the European Union police agency Europol of exchanging around 1 billion euros in assets linked to criminal activities.

The little-known crypto exchange last week was charged by the U.S. with money laundering.

Europol alleges that Bitzlato targeted
"Crucial crime facilitators such as crypto exchanges are becoming a key priority in the battle against cybercrime."

Europol also alleges that Bitzlato transacted in multiple cryptocurrencies including bitcoin (BTC), Dash and Litecoin, as well as U.S. dollars and Russian rubles.

The company’s CEO, financial director,r, and market director were all arrested in Spain, as well as one additional individual in Cyprus and one in the U.S., Europol said.

The U.S. Department of Justice announced it had shut down the Hong Kong platform and taken founder Anatoly Legkodymov into custody in Miami.

Europol also went on house searches in Spain, Cyprus, and Portugal, took down digital infrastructure in France; and seized 18 million euros ($19.5 million) in cryptocurrency, vehicles,s and electronics, plus the freezing of 50 million euros ($54.3 million) of crypto at other exchanges.

Leave a Reply

Your email address will not be published.