Tags: Bitzlato

Crypto Exchange Bitzlato in Hot Water as Co-founder Pleads Guilty

“I could launch the exchange from my apartment," Anton Shkurenko said of the exchange multinational authorities shut down in January. The Bitzlato team has retained most of its users’ funds and could resume operations quickly, he said.

The exchange has been charged by U.S. and European authorities with laundering $700 million in funds tied to Russian criminals.

Bitzlato was shuttered last week and its founder arrested in Miami after being charged by the DOJ with money laundering.

Several senior executives have been arrested in Spain, Europol announced, following founder Anatoly Legkodymov‘s arrest in Miami.

The U.S. Department of Justice was criticized for over-hyping the seizure of a little-known exchange.