Binance Founder Changpeng Zhao Steps Down as CEO and Pleads Guilty in $4 Billion Settlement
EN
Search
US Department of Justice Takes Action Against Bitzlato, Arrests CoFounder
January 18, 2023
MINS
The DOJ severed the connection between Bitzlato and the dark web marketplace, Hydra, effectively ending the conduit for illegal cyber transactions.
US DOJ Files Charges against Bitzlato
The United States Department of Justice (DOJ) unveiled charges that include money laundering and ransomware attacks against Bitzlato after arresting the Hong Kong-registered exchange’s founder, Anatoly Legkodymov, in Miami on Tuesday, January 17.
The DOJ held a press conference on January 18, 2022, after 12:00 noon EST to announce charges against Legkodymov and Bitzlato. The DOJ confirmed that Bitzlato’s connection to the dark web marketplace Hydra is responsible for facilitating millions of dollars of criminal transactions and helping create a safe haven for criminal activity across the globe.
Lisa Monaco, Deputy Attorney General of the United States, called the move one of the “most significant” efforts achieved by the recently created Cybercrime Taskforce. Monaco emphasized that the investigation into Bitzlato was the culmination of efforts through her office and represents the commitment to capture cybercriminals who engage in illicit activities around the globe, seemingly outside the purview of US jurisdiction.
The DOJ confirmed that Bitzlato facilitated a customer base that predominantly operated from Russia, potentially as a way to evade sanctions and foster an environment that encourages cybercrime to disrupt international order. The DOJ confirmed that there is no limit to the vigilance of US officials or its partners.
Along with the help of European agencies, US officials seized the servers of Bitzlato, effectively cutting off access to the Hydra marketplace to complete transactions. Bitzlato allowed users to access their exchange with minimal identification registration making it a crucial conduit for criminal activity.
US DOJ official made a clear statement to the world of illicit cybercrime, saying that Legkodymov, the “founder and senior executive, is in handcuffs in the United States.”
Before adding: “We are just getting started."
The DOJ confirmed that additional charges could be filed against Legkodymov and Bitzlato.
To watch the full press conference, see the DOJ website link.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: The content in the above article is a press release, provided by a third party. Readers should do their own research before interacting or engaging with the mentioned companies and/or any related services. BSC News is neither directly nor indirectly responsible for any damage or loss caused or alleged to be caused by or in connection with the use of any content, goods or services mentioned in the above article.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
Disclaimer: This article is exclusive BSC News Premium Content. Premium content is viewable without a membership for a limited time. After the limited time period expires, readers will need to either subscribe or hold a BSC News NFT to view Premium Content. Visit the BSC News NFT website, Discord, and Twitter to learn more about becoming a Premium member.
Disclaimer: The content of this piece is the opinion of the writer. Nothing in this article is intended to constitute financial advice. The content of this article is intended for entertainment and educational purposes only. Investing in cryptocurrency carries a high degree of risk. Capital is at risk, and returns are never guaranteed. You should always do your own research.
Disclaimer: Disclaimer: This article is written by a visiting author. Opinions herein are those of the visiting author. Nothing in this article is intended to constitute financial advice. The content of this article is intended for entertainment and educational purposes only. Investing in cryptocurrency carries a high degree of risk. Capital is at risk, and returns are never guaranteed. You should always do your own research.
Author
Related News
Do Kwon Faces Extradition to the United States Over Terra Crypto Collapse
.jpg)
December 7, 2023
The decision, yet to be officially announced, follows the US Securities and Exchange Commission's (SEC) charges against Kwon for alleged crypto asset securities fraud.
Montenegro's Justice Minister is reportedly inclined to extradite Do Kwon, the founder of Terraform Labs, to the United States, according to a recent report from The Wall Street Journal.
Do Kwon, a key figure in the Terra blockchain ecosystem, is wanted by the United States and South Korea for his alleged involvement in the downfall of Terra's digital assets.
The decision follows Kwon's arrest in Montenegro last March. The collapse, which occurred in May 2022, triggered a broader market downturn affecting major players in the cryptocurrency space.
Legal Maneuvers and Extradition Talks
Kwon, who initially agreed to be extradited to South Korea, now faces the possibility of extradition to the United States. Montenegro's Justice Minister has privately communicated the decision to send Kwon to the US to answer charges related to financial crimes.
The specific charges include commodities fraud, securities fraud, wire fraud, and conspiracy to defraud and engage in market manipulation during Kwon's tenure at Terra.
Despite Kwon's earlier agreement for extradition to South Korea, the final decision rests with Justice Minister Milovic. The minister may await the outcome of a potential last-ditch appeal by Kwon against the court ruling.
Milovic emphasized that the decision would be made public "in a timely manner," leaving room for speculation on the intricate legal proceedings.
SEC Charges and Market Impact
The United States Securities and Exchange Commission (SEC) had previously charged Kwon with defrauding investors in crypto schemes in February. The legal action marked a pivotal moment, linking Kwon to allegations of orchestrating a multibillion-dollar crypto asset securities fraud.
In May 2022, Terraform Labs' collapse had a significant impact on the broader cryptocurrency market, impacting major platforms like Voyager Digital, BlockFi, Celsius Network, and FTX.
Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Don't forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto.
Follow us on Twitter and Instagram!
If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.
Looking for a job in crypto? Check out the CryptoJobsNow listings!
Follow us on Twitter and Instagram!
If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.
Looking for a job in crypto? Check out the CryptoJobsNow listings!
Disclaimer: This article is exclusive BSC News Premium Content. Premium content is viewable without a membership for a limited time. After the limited time period expires, readers will need to either subscribe or hold a BSC News NFT to view Premium Content. Visit the BSC News NFT website, Discord, and Twitter to learn more about becoming a Premium member.
Author
Editors Choice
Other Currencies
Today
nameLTLitecoin
.png)
Sponsored
Buy Crypto with Fees as low as 0%
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
£0£0+0%
nameLTEOSSponsored
Buy Crypto with Fees as low as 0%
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
£0£0+0%
nameLTMoneroSponsored
Buy Crypto with Fees as low as 0%
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
£0£0+0%
nameLTBitcoin CashSponsored
Buy Crypto with Fees as low as 0%
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
£0£0+0%
More Here
© 2023 BSC NEWS. ALL RIGHTS RESERVED.
Download The BSC News App for Mobile
BSCNews is the first dedicated media outlet on Binance Smart Chain.
