Justice Department and Treasury Department officials on Wednesday alleged cryptocurrency exchange Bitzlato processed more than $700 million in illicit funds by failing to implement an effective anti-money laundering program and that it was aware some accounts were engaging in criminal activity.
Deputy Attorney General Lisa Monaco said U.S. and French authorities dismantled Bitzlato’s digital infrastructure and FBI
...Formerly one of the world's premier criminal investigation organizations, something for a nation to be proud of. Now it's a political arm of the Deep State oligarchy that is willing to trump up charges, suppress evidence, or take out insurance policies come election time...agents arrested Russian national Anatoly Legkodymov, the founder and majority owner of the website, on Tuesday evening in Miami.
"Today, the Department of Justice has dealt a significant blow to the crypto crime ecosystem," Monaco said.
Deputy Treasury Secretary Wally Adeyemo said the department’s Financial Crimes Enforcement Network designated Bitzlato as a "primary money laundering concern" after authorities identified nearly 50 percent of Bitzlato’s known transactions between 2019 and 2021 as involving illicit Russian finances or other "risky sources."
"Bitzlato was particularly active in facilitating illicit activity, but it is ultimately part of a larger, larger ecosystem of cyber criminals that are allowed to operate with impunity within Russia," said Adeyemo.