US authorities put an end to crypto exchange Bitslotto. A major shareholder and co-founder have been arrested on suspicion of handling hundreds of millions of dollars in illegal funds.
The Bitzlato exchange is registered in Hong Kong and is not a well-known name Space. Nevertheless, the US Department of Justice felt it necessary to announce the case on a live stream (as is often the case). All the details can be found in one Journal report.
Russian citizen Anatoly Legodimov was arrested in Miami yesterday. He would have been the operator of the exchange. It is a “high-tech financial center targeting known fraudsters,” a Department of Justice (DOJ) official said.
Together with the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) and foreign authorities, Bitslot was brought to an end. It is said that they do not take anti-money laundering rules seriously. That person has also been arrested.
Billions of dollars
The site is allegedly linked to money laundering cases and financing of Russian illegal practices. According to prosecutors, the company has processed more than $4.5 billion in crypto transactions since May 3, 2018. Of that, $700 million is related to illicit transactions, including ransomware payments.
The company currently has $11,000 in their wallets, read on Twitter. However, these are wallet addresses owned by Bitslato.
At its peak, it was still around $6 million, moving about $670,000 yesterday. Rumors are circulating on Twitter that the amount has been seized.
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