Bitzlato cryptocurrency founder arrested, accused of illegal money transfers worth hundreds of millions

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A Russian national who founded a crytpcurrency exchange was arrested Tuesday in Miami and is accused of evading U.S. financial regulations and permitting illicit financial transactions on his platform.

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, which DOJ officials described as "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." Deputy Attorney General Lisa Monaco listens during a news conference at the Department of Justice in Washington, D.C., on Nov. 30, 2022.FTX SAYS HACKERS STOLE $145M AFTER CRYPTOCURRENCY EXCHANGE FILED FOR BANKRUPTCY

"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," Monaco said.

 

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Crypto Platform Bitzlato Charged With Laundering More Than $700 Million of Illicit MoneyU.S. authorities have designated cryptocurrency exchange Bitzlato as a primary money-laundering concern and charged its founder for allegedly facilitating money laundering for criminals and for operating illegally in the U.S. Shocker.... Tereeeffic optimism
Source: WSJ - 🏆 98. / 63 Read more »

Bitcoin and Ethereum correct as Bitzlato take down, tech layoffs and economic worries dominate headlinesFear of serious regulatory enforcement against the crypto sector and concerns over the strength of the most recent rally in Bitcoin and Ethereum prompted traders to take a little bit off the table as BTC, ETH and altcoin prices softened. Crypto's 'Excuse Of The Day' is brought to you by The People Who Just Took Your Money. We big chillin The banks and elites want it because it give ms us mere serfs financial freedom
Source: Cointelegraph - 🏆 562. / 51 Read more »