US arrests Russian crypto exchange owner for allegedly laundering over $700 million
a spokesperson for Binance said the firm “provided substantial assistance to international law enforcement partners in support of this investigation.”
The DOJ alleges that Anatoly Legkodymov was aware that Bitzlato’s accounts “were rife with illicit activity”issued by the Department of Justice , authorities claim that Bitzlato did not implement sufficient anti-money laundering safeguards and opened itself up to criminals as a no-questions-asked cryptocurrency exchange. Bitzlato co-founder Anatoly Legkodymov, a 40-year-old Russian national living in Shenzhen, China, is charged with conducting an unlicensed money-transmitting business.
Authorities claim that Bitzlato conducted over $700 million in illicit cryptocurrency exchanges with users of Hydra Market, a Russian darknet marketplace for drugs, money laundering services, and stolen financial information. US and German officials said that Hydra Market had facilitated ransomware attacks before it was
. According to the complaint, Bitzlato is believed to have received more than $15 million in ransomware proceeds from its exchanges with Hydra Market.
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