Few people in Europe and US until today were aware about Bitzlato, a cryptocurrency exchange charged by the U.S. Department of Justice for processing $700M of illegal funds.
In a conference on Wednesday the US DOJ announced the arrest in Miami of Anatoly Legkodymov, the Bitzlato cofounder, for allegedly processing over $700 million of illicit funds. According to the Department of Justice, the Hong Kong-registered exchange Bitzlato allowed its users to trade cryptocurrencies without verifying their identity.
“Overnight, the Department worked with key partners here and abroad to disrupt Bitzlato, the China-based money laundering engine that fueled a high-tech axis of cryptocrime, and to arrest its founder, Russian national Anatoly Legkodymov,” said Deputy Attorney General Lisa O. Monaco. “Today’s actions send the clear message: Whether you break our laws from China or Europe — or abuse our financial system from a tropical island — you can expect to answer for your crimes inside a United States courtroom.”
Meanwhile Ripple’s Stuart Alderoty shared his view on Twitter, praising the DOJ and its activity to persecute crypto crimes: