The USTreasury and TheJusticeDept have accused Bitzlato of laundering funds tied to illicit Russian finance and its founder has been arrested. According to officials, the company hosted wallets of criminals buying and selling illegal goods.
and arrested its founder in Miami, officials said at a press conference in Washington on Wednesday.
The label effectively declares the exchange"an international pariah," Treasury Deputy Secretary Wally Adeyemo said. The little-known cryptocurrency exchange offered peer-to-peer services and hosted wallets of criminals buying and selling illegal goods, according to Justice Department officials, involving $700 million in direct and indirect transfers in the last several years. FinCEN said the company played a key role in handling illicit transactions for ransomware actors in Russia, including those connected to the Russian government.
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