The United States Department of Justice has announced an international cryptocurrency enforcement action. The action was taken against the Hong-Kong based crypto exchange – Bitzlato. The DoJ announced the arrest of the founder of the crypto exchange – Anatoly Legkodymo. The Russian national faces charges of conducting an unlicensed money-transmitting business and failing to meet anti-money laundering rules.
A press release on the arrest stated that the exchange had become the hub for criminal activity. It further read, “Bitzlato’s largest counterparty in cryptocurrency transactions was Hydra Market, an anonymous, illicit online marketplace for narcotics, stolen financial information, fraudulent identification documents, and money laundering services that was the largest and longest running darknet market in the world.”
Moreover, the crypto exchange’s website has currently been seized by enforcement authorities. And the notice reads, “This service has been seized by the Gendarmerie Nationale cyberspace command under the authority of the French Paris Prosecutor’s office ”. Notably, this operation was a joint action of the Cyprus police, the Civil Guard of Spain, Politie Police, the Belgian Federal Police, Europol, Eurojust, FIOD Tax and Customs Administration, and others.Subscribe to get it daily in your inbox.