US Authorities Shut Down Bitzlato Exchange, Arrest Founder
On Wednesday, the United States Department of Justice (DOJ) shut down Hong Kong-based crypto ex change , Bitzlato. The DOJ released a press release stating that the ex change was a den for criminal activities—from money laundering to ransomware. There were also claims that Bitzlato had received more than $15 million in ransomware payments. As well as processing more than $700 million in illicit transactions. Organized Crackdown The seizure of the crypto ex change was a coordinated operation by law enforcement authorities in Europe and the U.S. Authorities involved in the operation included the Cyprus Police, the Civil Guard of Spain, Europol, Eurojust, Politie Police, the Belgian Federal Police, FIOD Tax and Customs Administration, among others. Furthermore, the Financial Crimes Enforcement Network of the U.S. Department of Treasury connected Bitzlato with illegal financing in Russia. Notably, a press release by the Network stated that the ex change aided the laundering of C...