Cryoto Crime Update: Bitzlato Founder Pleads Guilty to Unlicensed Money Transmitting Business
Russian national Anatoly Legkodymov, pled guilty in a federal court in Brooklyn to operating a money transmitting business in connection with Bitzlato Ltd., a crypto exchange. DOJ Press Release
Bitzlato is allegedly linked to the notorious Hydra Market and was charged with handling $700M+ in illicit funds, including ransomware profits.
Legkodymov's plea includes dissolving Bitzlato & forfeiting $23M in assets.
According DOJ officials: “Legkodymov operated a cryptocurrency exchange that was open for business to money launderers and other criminals"
"Transacting in cryptocurrency does not put you beyond the reach of the law. Legkdoymov’s plea demonstrates the consequences for those who would offer a safe haven for criminals and their ill-gotten gains.”