Anatoly Legkodymov was arrested for allegedly sending illicit funds totalling $700 million.
A Russian cryptocurrency boss was arrested by the United States for allegedly laundering hundreds of millions of dollars in illegal funds.
Anatoly Legkodymov (40), a Russian-born resident of Shenzhen in China is a majority shareholder of Hong Kong’s exchange Bitzlato.
The US Justice Department stated that he was arrested for allegedly transmitting illicit funds totalling $700 million.
According to the US, criminals used Bitzlato as a refuge for ransomware and drug trafficking profits.
Legkodymov, 40 years old, was detained in Miami and was scheduled to appear in court.
Bitzlato’s biggest partner in transactions was Hydra. This anonymous online marketplace on the “darknet” was shut down last year by the US and German authorities.
Hydra was a dealer in illegal drugs, stolen credit card data, counterfeit currency, and fake identity documents. The encryption masks the identities of those involved.
In Washington, Lisa Monaco, the US Deputy Attorney General, stated that Bitzlato was “a China-based money laundering engine which fueled a high tech axis for a crypto crime.”
She stated that “Today, the Department of Justice dealt an important blow to the crypto crime environment.
“Today’s actions are a clear signal – regardless of whether you violate our laws from China or Europe or abuse our financial systems from a tropical Island, you can expect to face justice in a United States courtroom.”
According to the US Justice Department, Bitzlato was described as a “high-tech financial center that caters to known crooks” by an official.
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