Bitzlato crypto exchange co-founder pleads guilty to AML violations
Russian co -founder of crypto exchange Bitzlato, Anatoly Legkodymov, pleaded guilty to money laundering charges. According to a press release published by the U.S. Department of Justice (DoJ) on Dec. 6, 2023 Legkodymov pleaded guilty to operating a money transmitting business that “transported and transmitted” over $700 million in illicit funds. The DoJ claims Bitzlato was a primary provider for dark market purchasers and sellers, as well as a “safe haven for ransomware criminals.” Under the plea agreement, Legkodymov will dissolve Bitzlato and will release any claim over $23 million in seized assets of the crypto exchange . “Legkodymov’s guilty plea today confirms that he was well aware that Bitzlato, his cryptocurrency exchange, was being used like an open turnstile by criminals eager to take advantage of his lax controls over illicit money transactions.” U.S. Attorney Breon Peace You might also like: Bitzlato management a...