Bitzlato Executives Arrested in Europe, Exchange Laundered €1 Billion, Europol Says – Exchanges Bitcoin News

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Cryptocurrency exchange Bitzlato laundered €1 billion in crime-linked assets, Europol says.

According to the police agency, nearly half of the funds processed through the platform were associated with various criminal activities.High-ranking executives of the recently busted Bitzlato have been apprehended as part of the international investigation against the crypto exchange with the participation of law enforcement and judicial authorities in several European countries.

The Hong Kong-registered coin trading platform is suspected of facilitating the laundering of large amounts of criminal proceeds, the agency emphasized. Last week, the U.S.the arrest in Miami of its co-founder and majority owner Anatoly Legkodymov, a Russian national residing in China. Its France-based digital infrastructure was also shut down.

Police have conducted eight home searches, half of which in Spain, at one address in the U.S., two in Portugal, and one in Cyprus. Wallets with €18 million worth of cryptocurrency, vehicles and electronic equipment have been seized and over 100 accounts at other exchanges frozen, involving a total of €50 million.

 

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