The US Justice Department announced the adoption of "important international encrypted currency enforcement actions" against Bitzlato, a login password company, and arrested its founder, Anatoly Legkodymov.
In an announcement on January 18, US Deputy Attorney General Sally Monaco said that the authorities had been on good terms with France, implemented law enforcement actions against Bizlato, shut down the Bitzlato website and labeled the business as a "key money launderer" related to illegal Russian finance. According to Monaco, the judiciary, in collaboration with the National Ministry of Finance and French law enforcement, took action against Bitzlato because he "launched a project to transfer funds, which transports illegal assets and fails to meet the strict regulatory safeguards system of the United States."
As part of the Bitzlatow case, senior FBI officials arrested Lerdermov, a Russian resident in China, in Miami on January 17. According to the plan, he will be arraigned in the Regional people's Court of the Southern District of California.
Us authorities have stated that the criminal procedure law against Bitzlato is based on the fact that the company is an "important financial resource" in the Hydra website market, allowing users to launder money, including funds derived from extorting virus attacks:
Hydra Market customers exchanged more than $700 million in encrypted currencies with Bitzlato, either directly or through intermediaries, until Hydra Market was shut down by U.S. and German law enforcement agencies in April 2022. Bitzlato also received more than $15 million to blackmail the virus for profits.
The law enforcement action is a rapport between Europe and the United States to take away many of Bitzlatow's network resources-including the company's web servers-and detain the founder. Monaco said that the case has the "most significant law enforcement diligence" against exchanges since the establishment of our encrypted currency law enforcement working group in October 2021.
Kenneth Pratt, assistant attorney general of the criminal cases unit of the US Justice Department, said that the US authorities are just beginning to crack down on similar companies participating in money laundering. Although it did not post directly to the ongoing case of access to password trading centre FTX and former CEO Nick Bankman-Fried, Monaco warned that there was no need to commit crimes against the US financial system from a tropical island.
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