Spanish police arrested CEO Bitzlato on suspicion of money laundering: digital assets, cash and property worth $19.8 million were seized

Spanish police arrested CEO Bitzlato on suspicion of money laundering: digital assets, cash and property worth $19.8 million were seized

On February 2, Spanish law enforcement officers detained the CEO, head of sales and marketing director of crypto exchange Bitzlato. In total, the joint efforts of the police of France, Portugal, Cyprus and the USA arrested six citizens of Russia and Ukraine, who managed the exchange of cryptocurrencies.

We help

Unrecognizable

According to the Spanish police, the anonymity of the exchange allowed it to become a platform for criminal organizations that launder money using cryptocurrency. Authorities confiscated 18 million euros ($19.8 million) in digital assets, fiat money and property (cars, smartphones, etc.) and blocked more than 100 exchange accounts.

Two days earlier, Bitzlato co-founder Anton Shkurenko said that 50% of the bitcoin crypto exchange held in wallets could be withdrawn — as soon as the exchange restarts. Earlier, investigators seized 35% of user funds stored in Bitzlato. Shkurenko also stated that the new crypto exchange will be based in Russia — “out of reach of law enforcement agencies.”

Spanish police arrested CEO Bitzlato on suspicion of money laundering: digital assets, cash and property worth $19.8 million were seized
Message on the main page of the Bitzlato website

On January 18, the main shareholder and co-founder of Bitzlato, Russian Anatoly Legkodymov, was detained in Miami. The US Department of Justice said the crypto exchange failed to comply with Know Your Customer and anti-money laundering regulations. On the same day, Bitzlato websites were blocked and some of the exchange funds were seized.

The exchange, according to prosecutors, exchanged more than $700 million in cryptocurrency with Hydra Market, an “illegal online marketplace for drugs, stolen financial information, fake documents and money laundering services,” which was shut down by U.S. and German law enforcement in April 2022.

Source: Cointelegraph

Related Posts

The Stellantis auto concern bought the II-service CloudMade with a Ukrainian team of developers

The Stellantis car concern (includes 18 brands, including Alfa Romeo, Chrysler, Citroen, Dodge, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot) acquired the CloudMade service of the Star company….

Part Two” has an 80 on Metacritic and a 97% freshness rating on Rotten Tomatoes

Aggregators of film critics’ ratings give hope that “Dune: Part Two” by Dani Villeneuve will become one of the best films of the year, at least among…

The future custom chip for Microsoft will be made by Intel. The deal could be worth $15 billion

Regarding the new division, Intel Foundry received an important order from a large company, namely Microsoft. CEO Satya Nadella has announced that his company will use Intel’s…

Google to manufacture Pixel smartphones in India from April – Nikkei

Google has told suppliers to start manufacturing its Pixel smartphones in India by next quarter at the latest, as part of its plan to ship more than…

Before retiring, Jim Ryan gave advice to his successor and named the main games of each PlayStation generation

After three decades at PlayStation, Jim Ryan, who steps down as president and CEO of Sony Interactive Entertainment next month, has seen the industry he loves go…

The social network Reddit for $60 million a year allowed Google to use its content to train artificial intelligence

Social media platform Reddit has struck a deal with Google to make its content available to train the search giant’s artificial intelligence models. According to sources, the…

Leave a Reply

Your email address will not be published. Required fields are marked *