Anatoly Legkodymov, the founder of China-based crypto firm Bitzlato, was arrested under suspicion of money laundering related to illicit Russian finance.
The good news from last week was Bitcoin BTC ($22,861) continued to reverse, rising about 10% from Jan. 16 to Jan. 1. 23. But the disturbing situation of the crypto industry is making headlines because they are running and the rules have not changed.
The United States Department of Justice has launched a “global cryptocurrency enforcement action” against China-based crypto company Bitzlato and arrested its founder, Anatoly Legkodymov. The department considers Bitzlato a “primary financial concern” related to Russian money laundering.
Although the exchange received little attention until the DOJ case, it was reported that it received $206 million from darknet sales, $224.5 million from fraud, and $9 million from ransomware attackers.
The United States Financial Crimes Enforcement Network said that crypto exchange Binance was among Bitzlato’s “top three receiving counterparties” in terms of Bitcoin transactions. But he did not talk about the form of the most important part of the oldest people.
The United States Securities and Exchange Commission has followed the Commodity Futures Trading Commission in filing parallel charges against the crypto user allegedly behind the multimillion-dollar exploit of the decentralized exchange Mango Markets. Avraham Eisenberg is accused of manipulating Mango Markets’ MNGO governance token to steal roughly $116 million worth of cryptocurrency from the platform.
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