DOJ Shuts Down Bitzlato Crypto Exchange – Bitcoin Magazine

The U.S. Department of Justice (DOJ) has announced the closure of the Bitzlato cryptocurrency exchange, along with the FBI’s arrest of the exchange’s owner, Anatoly Legkodymov. In a live stream hosted on January 18, representatives from the law enforcement bureau revealed that the Hong Kong-based exchange was allegedly a part of a large illicit cryptocurrency network designed to circumvent sanctions, launder money and conceal crimes. 

“Legkodymov operated Bitzlato as a high-tech financial hub that, in his own words, catered to ‘known crooks,’” the DOJ statement reads. “Bitzlato failed to implement safeguards required by U.S. law – safeguards that enable authorities to detect and investigate financial crimes.”

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